Marks & Spencer Group Plc #MKS Announced, in its trading update, that the company’s board has carefully considered the impact of 'COVID-19' on the outlook for the next 12 months trading and longer-term impact on the business. Each day the company is learning more about its effects and running a range of scenarios as to possible impact on sales, profit, and cash flows. Whilst it remains confident that the post crisis future of the business and its transformation programme remains as strong as ever, trading over the next 9-12 months in its Clothing and Home and International businesses is likely to be severely impacted. As a result, it is not possible to provide meaningful guidance on future earnings, although the company is taking every step to secure future value for shareholders, colleagues, and suppliers.
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