Brexit sees M&S lose £16.1m due to tariffs as well as admin and supply chain costs
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British retailer Marks and Spencer has revealed that Brexit cost the company over £16 million in tariffs, administration and supply chain expenses during the 52 weeks up to 27th March 2021.
The long-established supermarket and clothing chain published the figures as part of its annual financial results document, titled âNever The Same Again – Forging A Reshaped M&Sâ.
M&S said the following estimated cost impacts were incurred by the Group in 2020/21 as a result of Brexit:
NEVER THE SAME AGAIN - FORGING A RESHAPED M&S 2020/21 is a 53-week year. The comparative period is 52 weeks to 28 March 2020. To aid understanding, we are showing the. | May 26, 2021
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