M&S warns of a 120 million hit from the Budget and cannot rule out passing costs on - London Business News | Londonlovesbusiness.com
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from London Business News | Londonlovesbusiness.com4 months ago
Stuart Machin emphasized, "We'll do everything we can to make sure that cost is not passed on to consumers. It's not easy but that's our ambition."
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/ms-warns-of-a-120-million-hit-from-the-budget-and-cannot-rule-out-passing-costs-on/
Machin warned that the company "cannot rule anything out" regarding potential price hikes, as they are still navigating cost-cutting plans totaling £500 million.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/ms-warns-of-a-120-million-hit-from-the-budget-and-cannot-rule-out-passing-costs-on/
Despite cost pressures, M&S reported strong performance, with underlying pre-tax profits up 17.2% to £407.8 million in the first half of the year.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/ms-warns-of-a-120-million-hit-from-the-budget-and-cannot-rule-out-passing-costs-on/
M&S highlighted rising costs due to the national insurance hike and wage increase, expecting continued cost inflation amid an uncertain consumer environment.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/ms-warns-of-a-120-million-hit-from-the-budget-and-cannot-rule-out-passing-costs-on/
Read at London Business News | Londonlovesbusiness.com
#ms #cost-pressures #national-insurance #profit-report #consumer-prices
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