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Marks&Spen


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UK firms flag over $1 billion in costs from increase in national insurance, wages

FACTBOX-UK firms flag over $1 billion in costs from increase in national insurance, wages Adds details on Mitie's cost estimates Nov 21 (Reuters) - British companies have flagged an increase of about 820 million pounds ($1.04 billion) in costs related to a rise in employers' social security contributions following Finance Minister Rachel Reeves' maiden budget in October.
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UK retail warns of inflation, job losses from budget, seeks Reeves meeting

UPDATE 1-UK retail warns of inflation, job losses from budget, seeks Reeves meeting Over 80 retail bosses sign letter to finance minister Say retail faces 7 bln stg in extra annual costs from 2025 Wants to work with government to find solution Adds latest number of signatories paragraph 2, comment from spokesperson for Prime Minister Keir Starmer 7 and 8 By James Davey LONDON, Nov 19 (Reuters) - Britain's biggest retailers have written to finance minister Rachel Reeves to warn her that last mont
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Financial Times - Nov 19

PRESS DIGEST- Financial Times - Nov 19 Nov 19 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - London's Metropolitan police has 'exhausted' its financial buffers - UK retailers warn Rachel Reeves of £7bn hit from Budget changes - UK 'exposed' in event of global trade war, warns business secretary - British Airways flights hit by fresh round of IT problems Overview - London's Metropolit
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UK retail warns of inflation and job losses from budget, seeks Reeves meeting

UK retail warns of inflation and job losses from budget, seeks Reeves meeting Seventy-nine retail bosses sign letter to finance minister Say retail faces 7 billion pounds in extra annual costs from 2025 Want to work with government to find solution LONDON, Nov 19 (Reuters) - Britain's biggest retailers have written to finance minister Rachel Reeves to warn her that last month's budget will make both higher prices and job losses a certainty and dent investment.
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UK firms flag hundreds of millions in costs from increase in national insurance, wages

FACTBOX-UK firms flag hundreds of millions in costs from increase in national insurance, wages Adds Young & Co Brewery's statement in paragraph 12 Nov 15 (Reuters) - British companies have flagged a rise of about 520 million pounds in costs following Finance Minister Rachel Reeves' maiden budget in October, which included an increase in employers' social security contributions.
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Retail boss calls for UK tax rises to be staggered to avoid stoking inflation

UPDATE 1-Retail boss calls for UK tax rises to be staggered to avoid stoking inflation UK retail sector facing 5 bln stg hit, says BRC chairman Says tax rises should be phased over three years UK govt says budget took tough but necessary choices Adds comment from Prime Minister's spokesperson in paragraph 6 LONDON, Nov 13 (Reuters) - The new Labour government must re-think the timing of tax rises imposed in last month's budget and instead phase them in if it wants to avoid fuelling inflation, th
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Retail boss calls for UK tax rises to be staggered to avoid stoking inflation

Retail boss calls for UK tax rises to be staggered to avoid stoking inflation LONDON, Nov 13 (Reuters) - The new Labour government must re-think the timing of tax rises imposed in last month's budget and instead phase them in if it wants to avoid fuelling inflation, the chairman of the British Retail Consortium said on Tuesday. The budget raised employers' National Insurance, or social security, contributions by 1.2 percentage points to 15% from April, and also lowered the threshold for when fir
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UK grocery sales growth slows as consumers wait for Christmas and Black Friday, says NIQ

UK grocery sales growth slows as consumers wait for Christmas and Black Friday, says NIQ UK supermarket sales up 4.0% in four weeks to Nov 2 - NIQ Says UK has a 'polarised consumer' Ocado, Lidl and M&S are fastest growing grocers Asda is the laggard LONDON, Nov 13 (Reuters) - British grocery sales growth slowed over the last month as shoppers held back spending in anticipation of upcoming Christmas festivities and Black Friday promotions, industry data showed on Wednesday.
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UK Stocks-Factors to watch on Nov 12

UK Stocks-Factors to watch on Nov 12 Nov 12 - Britain's FTSE 100 .FTSE index is seen opening lower on Tuesday, with futures FFIc1 down 0.23%. * ABRDN: Britain's Abrdn ABDN.L is selling its Focus Solutions software business, as the asset manager's new CEO Jason Windsor looks to show he can deliver changes fast to improve the company's performance. * M&A: Private equity firms expect an increase in deal activity in 2025, with 84% of the respondents of a survey expecting to execute at least five to
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Sainsbury's and BT warn of price hikes from UK budget

RPT-CORRECTED-UPDATE 1-Sainsbury's and BT warn of price hikes from UK budget Repeats earlier story without change By James Davey, Paul Sandle LONDON, Nov 7 (Reuters) - Two of Britain's biggest businesses, BT BT.L and Sainsbury's SBRY.L , said tax changes in last week's budget would fuel inflation, a view already playing into the Bank of England's longer term interest rate plans.
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Sainsbury's and BT warn of price hikes from UK budget

CORRECTED-UPDATE 1-Sainsbury's and BT warn of price hikes from UK budget Corrects to remove reference to minimum wage in paragraph 7 By James Davey and Paul Sandle LONDON, Nov 7 (Reuters) - Two of Britain's biggest businesses, BT BT.L and Sainsbury's SBRY.L , said tax changes in last week's budget would fuel inflation, a view already playing into the Bank of England's longer term interest rate plans.
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Sainsbury's and BT warn of price hikes from UK budget

CORRECTED-Sainsbury's and BT warn of price hikes from UK budget Corrects to remove reference to minimum wage in paragraph 6 By Paul Sandle and James Davey LONDON, Nov 7 (Reuters) - Two of Britain's biggest businesses, BT BT.L and Sainsbury's SBRY.L , said tax changes in last week's budget would fuel inflation, a view which could affect the Bank of England's longer term interest rate plans.
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UK's Sainsbury's warns budget tax rises will be inflationary

UPDATE 3-UK's Sainsbury's warns budget tax rises will be inflationary Flags 140 mln stg hit to 2025/26 tax bill First half 2024/25 profit up 3.7% Q2 like-for-like sales, ex fuel, up 4.2% Expects strong Christmas performance Maintains full-year 2024/25 profit forecast Recasts with CEO's comments on budget paragraphs 1 to 5 By James Davey LONDON, Nov 7 (Reuters) - The boss of British supermarket Sainsbury's SBRY.L said changes to national insurance made by the government in last week's budget will
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Compass Group, Pandora, SSP Group

EUROPE RESEARCH ROUNDUP-Compass Group, Pandora, SSP Group Nov 7 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Compass Group, Pandora and SSP Group, on Thursday. HIGHLIGHTS * Compass Group CPG.L : Jefferies raises target price to 3,000p from 2,500p * Just Eat Takeaway.Com JETJ.L : JP Morgan raises target price to 1,415p from 1,396p * Marks and Spencer Group MKS.L : JP Morgan raises target price to 440p from 425p * Pandora PNDORA.C
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FTSE 100 pulls back from early gains after Trump's victory

UPDATE 1-FTSE 100 pulls back from early gains after Trump's victory FTSE 100 down 0.1%, FTSE 250 up 0.4% Donald Trump wins US election Persimmon drags down homebuilder stocks BoE, Fed rate decision in focus Updated at 1650 GMT By Nikhil Sharma and Sruthi Shankar Nov 6 (Reuters) - The UK's benchmark FTSE 100 slipped on Wednesday as losses in shares of homebuilders and precious miners countered an upbeat global market sentiment following Republican Donald Trump's election as U.S.
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M&S and Wetherspoons face multi-million pound hit from 'double whammy' budget

M&S and Wetherspoons face multi-million pound hit from 'double whammy' budget By James Davey and Yamini Kalia LONDON, Nov 6 (Reuters) - Marks & Spencer MKS.L and JD Wetherspoon JDW.L , two of Britain's biggest high street employers, said higher taxes and a jump in the minimum wage would cost them a combined 180 million pounds ($232 million) annually.
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M&S says UK government budget to cost it 120 mln stg

UPDATE 1-M&S says UK government budget to cost it 120 mln stg Adds CEO comment on wage bill LONDON, Nov 6 (Reuters) - Britain's Marks & Spencer f aces 120 million pounds of extra costs next year as a result of the government's budget on Oct. 30, the food and clothing retailer's chief executive said on Wednesday. An increase to employers' social security contributions amounts to a 60 million pound headwind to M&S next year, while the 6.7% rise in minimum wage announced by the government will add
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UK's M&S faces 60 mln stg bill from tax changes

UK's M&S faces 60 mln stg bill from tax changes LONDON, Nov 6 (Reuters) - Britain's Marks & Spencer will face a 60 million pound ($77 million) headwind next year as a result of the changes made to national insurance in the government's budget last week, the retailer's chief executive Stuart Machin said on Wednesday. ($1 = 0.7747 pounds) Reporting b
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UK's M&S hits more than 8-year high on upbeat forecast, H1 profit rise

BUZZ-UK's M&S hits more than 8-year high on upbeat forecast, H1 profit rise ** Shares of British retailer Marks & Spencer MKS.L up 3.1% at 395.5p, highest since June 2016 ** Stock outperforms FTSE 100 .FTSE , which is up 1.3% ** Co forecasts " further progress " in the rest of its financial year; says overall trading remains on track in the first f
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UK Stocks-Factors to watch on Nov. 6

UPDATE 1-UK Stocks-Factors to watch on Nov. 6 Adds new items, updates futures Nov 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening h igher on Wednesday, with futures FFIc1 u p 1.1% . * PERSIMMON: British homebuilder Persimmon PSN.L said sales rates since the start of the third quarter were well ahead of last year, but flagged concerns around signs of build costs emerging in price negotiations for 2025. * MARKS & SPENCER: British retailer Marks & Spencer MKS.L forecast "further progre
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