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M&S profits rise but retailer warns of £60m hit from Reeves’ budget

M&S profits rise but retailer warns of £60m hit from Reeves’ budget



Concerns over increase in national insurance contributions and minimum wage on customers and suppliersMarks & Spencer has reported a better than expected jump in profits but warned that measures in last week’s budget could cost the company more than £60m next year.The British retail chain’s pre-tax profits hit £407.8m for the six months to October, up 17% on the same period last year, bolstered by sales rising 8.1% for food and 4.7% for clothing and homeware. Continue reading…



Source link : https://www.theguardian.com/business/2024/nov/06/m-and-s-profits-jump-but-reeves-budget-could-cost-it-120m-in-2025

Author : Jack Simpson

Publish date : 2024-11-06 16:46:52

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Tags :The Guardian

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