This research project investigates the negative impacts of the COVID-19 pandemic on the financial and operating performance of Marks & Spencer, a leading multinational retailer. The report begins with an introduction outlining the research aim, objectives, and questions, followed by a literature review that examines the importance of financial and operating performance, the specific negative impacts of COVID-19 on M&S (such as lower productivity), and the strategies M&S adopted to mitigate these effects, including deferring capital responsibilities and managing the expense base. The methodology section describes the use of both primary and secondary research methods, with a focus on secondary data from online sources. The data analysis and presentation section evaluates the importance of financial and operating performance and presents the negative impacts of COVID-19 on M&S, including the impact on group PBT. Finally, the conclusion summarizes the key findings and offers recommendations based on the analysis. The report uses various sources, including books, journals, and online articles, to support its findings. The report highlights the importance of financial and operational performance, the negative impacts of the pandemic, and the strategies employed to address the challenges.