Marks and Spencer has warned of a "gathering storm" of higher costs for retailers and pressure on household budgets as it reported a fall in profits for the first half of the year.
Consumers are also cutting back their spending, with the Bank of England warning the UK is facing its longest recession since records began. "A high proportion of these are in above average paid jobs or retired. Despite the recovery in demand since the pandemic and return to travel these age groups shielded more and many retain a savings cushion."M&S said group revenue rose by 8.5% to £5.5bn in the six months to 1 October, with clothing and home sales doing well.
"However, the far-reaching changes made over the past few years, together with a reinvigorated product offer and strong value for money credentials provide some insulation from the gathering storm." Velvet trousers, party wear and sequins were the most popular searched-for clothing items currently, she added.
No sympathy for these money grabbing bastards
Thanks for more fear mongering, BBC. Where would we be without you?
Just as I get a job there ffs
So Fatty Johnson was never openly racist & homophobic then? Language that would have got him swiftly fired in any normal democracy (sic) like here in Sunny EU Berlin for instance - Hooray!
Hey british, go fork your mom's kunt.
Quality business.
M&S no longer enjoys the demographic that made them what they were.