Retailers prepare updates as UK consumer spending weakens

Summarised from 2 outlets · Updated 30 Oct, 17:11 · Archive

UK retail sales volumes fell 0.4% in September, more than expected, amid weak demand for clothing.

Official data from the Office for National Statistics showed UK retail sales volumes fell by 0.4% in September, more than expected. The decline reflects slow demand for autumn and winter clothing lines, as consumers face headwinds from rising energy bills and wider economic concerns.

Marks & Spencer will unveil its latest half-year results on Wednesday. The retailer was severely affected by a cyber attack last year, which temporarily halted online clothing sales, but has since recovered ground. Profits are expected to more than double to around £390 million for the half-year to September, though this would still fall short of the £413.1 million achieved two years earlier, before the attack. M&S is expected to report a strong rebound in clothing and home sales compared with a year earlier, and will seek to highlight continued strength in its food business.

Next week's updates from retailers including Marks & Spencer, Next and Primark's parent firm will provide further insight into UK consumer sentiment heading into the Christmas shopping season. Asos, the online fashion retailer, will also reveal its figures on Thursday as part of its turnaround plan.

Retailers prepare updates as UK consumer spending weakens — Image: Evening Standard

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How it is being reported

M&S and Primark among retailers to shed light on consumer spendingIt comes after official data showed retail sales volumes fell by more than expected at 0.4% in September.Evening Standard · 30 Oct, 16:36
M&S and Primark among retailers to shed light on consumer spendingIt comes after official data showed retail sales volumes fell by more than expected at 0.4% in September.Independent Business · 30 Oct, 16:36

In this story: Marks & Spencer · Primark · Next · Asos · Office for National Statistics · UK

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