- Charge taken on the closure of Russian interests
- Clothing & Home strategy is supporting margins
Marks and Spencer (MKS) added to the stack of inflation warnings that are hanging over the outlook for retail, saying that it expects “increasing cost pressures and consumer uncertainty” to lead to a fall in profits next year. Nevertheless, trading since April has been ahead of last year, with a “particularly strong performance in Clothing & Home”, suggesting that consumer spending headwinds have not yet started to bite.