M&S published its H1 22/23 figures with adjusted PBT slightly below the market’s expectations. M&S opted not to pass on all cost inflation to retain its active customers despite the continued rising costs and a challenging consumer environment, which caused weaker profitability in the Food business.
The group expects the challenging trading environment to continue in H2 22/23.
09 Nov 2022
Lower margin in the food business
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Lower margin in the food business
Marks and Spencer Group plc (MKS:LON) | 258 -13.1 (-1.9%) | Mkt Cap: 5,256m
- Published:
09 Nov 2022 -
Author:
Jie Zhang -
Pages:
3
M&S published its H1 22/23 figures with adjusted PBT slightly below the market’s expectations. M&S opted not to pass on all cost inflation to retain its active customers despite the continued rising costs and a challenging consumer environment, which caused weaker profitability in the Food business.
The group expects the challenging trading environment to continue in H2 22/23.