Economic Collapse

In just the past five (5) days, increasing Global Economic Collapse and ‘Distress of Nations’; Britain’s Marks and Spencer to cut 7,000 jobs in latest blow to retail sector

Revelation 13:16-17 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

In just the past five (5) days, increasing Global Economic Collapse and ‘Distress of Nations’; Britain’s Marks and Spencer to cut 7,000 jobs in latest blow to retail sector

LONDON (Reuters) – Marks & Spencer (MKS.L) will cut a further 7,000 jobs, it said on Tuesday, as the COVID-19 crisis deals another blow to Britain’s beleaguered retail sector.

James Daviy UK Reuters August 18, 2020

“It is clear that there has been a material shift in trade and whilst it is too early to predict with precision where a new post-COVID sales mix will settle, we must act now to reflect this change,” M&S said.

Clothing and home trading in its stores remained well below last year though online and home delivery were strong, said the retailer, which has a UK workforce of about 78,000.

The 136-year old M&S is seeking to reinvent itself after decades of failed attempts. In May it said the crisis would indelibly change its business and that it would accelerate its turnaround plan.

M&S said the crisis had shown it could work more flexibly and productively with more employees multi-tasking and switching between the food and clothing and home divisions. Its use of technology has also increased.

Last month M&S shed 950 store management jobs. Its latest cuts will impact its headquarters, regional management and UK stores over the next three months.

The cuts add to thousands already announced by other major British retailers, including Boots (WBA.O), John Lewis [JLPLC.UL], Dixons Carphone (DC.L) and WH Smith (SMWH.L).

M&S expects a significant proportion of its cuts to be through voluntary departures and early retirement. Shopworkers’ trade union Usdaw called for urgent talks.

“These proposals are an important step in becoming a leaner, faster business set up to serve changing customer needs,” CEO Steve Rowe said.

M&S shares were down 2.8% at 0818 GMT, extending 2020 losses to 48%.

The firm said it was retaining a cautious approach to planning for the balance of the year.

Group sales were down 19.2% year on year in the 19 weeks to Aug. 8, which included part of Britain’s lockdown period, with clothing and home sales down 49.1% and food sales down 1.1%.

Clothing and home sales were down 29.9% in the eight weeks since stores reopened. Store sales were down 47.9%, while online sales were up 39.2%.

Food stores, which traded throughout the lockdown period, saw sales increase 2.5% in the latest eight weeks.

M&S said it was on track to launch an online food service next month through its partnership with Ocado (OCDO.L).

In His Service,

Night Watchman

Paul Rolland

Night Watchman Ministries

Make Your Decision for Christ NOW!!!!!!! Time is Up!!!!!!!

Jesus Christ’s Offer of Salvation:

The ABCs of Salvation through Jesus Christ (the Lamb)

A. Admit/Acknowledge/Accept that you are sinner. Ask God’s forgiveness and repent of your sins.

. . . “For all have sinned, and come short of the glory of God.” (Romans 3:23).

. . . “As it is written, There is none righteous, no, not one.” (Romans 3:10).

. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us.” (1 John 1:8).

B. Believe Jesus is Lord. Believe that Jesus Christ is who He claimed to be; that He was both fully God and fully man and that we are saved through His death, burial, and resurrection. Put your trust in Him as your only hope of salvation. Become a son or daughter of God by receiving Christ.

. . . “That whosoever believeth in him should not perish, but have eternal life. For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. For God sent not his son into the world to condemn the world; but that the world through him might be saved. (John 3:15-17). For whosoever shall call upon the name of the Lord shall be saved.” (Romans 10:13).

C. Call upon His name, Confess with your heart and with your lips that Jesus is your Lord and Savior.

. . . “That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved. For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.” (Romans 10:9-10).

. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us. If we confess our sins, he is faithful and just to forgive us our sins, and to cleanse us from all unrighteousness. If we say that we have not sinned, we make him a liar, and his word is not in us.” (John 1:8-10).

. . . “And he is the propitiation for our sins: and not for ours only, but also for the sins of the whole world. (John 2:2).

. . . “In this was manifested the love of god toward us, because that God sent his only begotten Son into the world, that we might live through him. And we have seen and do testify that the Father sent the Son to be the Saviour of the world. Whosoever shall confess that Jesus is the Son of God, God dwelleth in him, and he in God.” (1 John 4:9, 14-15).

. . . “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.” (Romans 5:8-10).

. . . “For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.” (Romans 6:23).

. . . “Jesus saith unto them, I am the way, the truth, and the life, no man cometh unto the Father, but by me.” (John 14:6).

. . . “For I am not ashamed of the gospel of Christ: for it is the power of God unto salvation to everyone that believeth.” (Romans 1:16).

. . . “Neither is there salvation in any other: for there is none other name under heaven given among men, whereby we must be saved.” (Acts: 4:12).

. . . “Who will have all men to be saved, and to come unto the knowledge of the truth for there is one God, and one mediator between God and men, the man Christ Jesus.” (1 Timothy 2:4-6).

. . . “For God did not appoint us to suffer wrath but to receive salvation through our Lord Jesus Christ.” (1 Thessalonians 5:9).

. . . “But as many as received him, to them gave the power to become the sons of God, even to them that believe on his name.” (John 1:12).

True Church / Bride of Christ Spared from God’s Wrath:

 Romans 5:8-10. “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.”

Romans 12:19Dearly beloved, avenge not yourselves, but rather give place unto wrath: for it is written, Vengeance is mine; I will repay, saith the Lord.

1 Thessalonians 1:10. And to wait for his Son from heaven, whom he raised from the dead, even Jesus, which delivered us from the wrath to come.

1 Thessalonians 5:9. For God hath not appointed us to wrath, but to obtain salvation by our Lord Jesus Christ,

Romans 8:35. Who shall separate us from the love of Christ? shall tribulation, or distress, or persecution, or famine, or nakedness, or peril, or sword?

Jeremiah 30:7. Alas! for that day is great, so that none is like it: it is even the time of Jacob’s trouble, but he shall be saved out of it.

Revelation 3:10 Because thou hast kept the word of my patience, I also will keep thee from the hour of temptation, which shall come upon all the world, to try them that dwell upon the earth.

Categories: Economic Collapse

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