Marks & Spencer plunges to first loss in 94 years

The retailer told shareholders it performed “better than expected” during the first half, with revenue falling less than initially predicted

Marks & Spencer’s £87.6m half-year loss is the first in its 94 years as a public company (Andrew Matthews/PA)

Marks & Spencer has fallen to a loss for the first time in its 94 years as a public company after clothing sales were hit hard by enforced store closures amid the pandemic.

The high street giant fell to a £87.6m (€97m) pre-tax loss for the 26 weeks to September 26, swinging from a £158.8m (€175.8m) profit in the same period last year.