Marks and 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.
M&S is a “highly seasonal business”, analysts said, making more money during the second half of the year, which includes the crucial Christmas sales period. But investors will be looking for evidence that customers might be feeling the pinch, as well as any impact from unusually warm weather affecting demand for autumn clothing ranges.
Experts pointed out that M&S’s customer base is generally more affluent and could be less impacted by the cost-of-living crisis than those of many of its rivals.Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “Demand for M&S food has remained strong and is arguably more protected from the rising inflation we’re seeing at the moment.