Marks & Spencer is set to unveil growing profits as it gives a glimpse into whether its customers are weathering the cost-of-living storm, or feeling the pinch.
When the retailer updates shareholders on Wednesday, it is anticipated to post greater earnings for the six months ending in September.
Numis Research analysts predict that pre-tax profits will reach approximately £ 270 million, up from £206 million at this time last year.
According to analysts, M&S is a “highly seasonal business,” generating higher revenue in the second half of the year—which coincides with the vital Christmas sales season.
The company stated in August that after growing market share in its food, home, and apparel sectors over the summer, its half-year earnings are probably going to be greater than it had previously predicted.
Less than a week will pass before rival Sainsbury’s announces that profits for the current year will exceed guideline levels and that grocery sales increased by 9 per cent in the second quarter.
Experts noted that compared to many of its competitors, M&S’s clientele is often wealthier and may be less affected by the cost of living crisis.
