LONDON — British retailer Marks & Spencer warned on Friday trading over the next 9-12 months in its clothing, homewares and international businesses was likely to be "severely impacted" by the coronavirus pandemic. To save cash, the group will not pay a final dividend for its 2019-20 financial year, and it said it was unable to provide meaningful guidance on earnings for 2020-21. However, it added the post-crisis future of the business was strong. "M&S has served customers without cease through two world wars, terrorist bombings and numerous local disasters and we are determined to support our customers now as we always do," the 136-year-old group said. "While there are many uncertainties, we expect to come through this period in a strengthened competitive position."

Source: International New York Times March 20, 2020 07:30 UTC