The high street stalwart said earnings will stagnate in the coming year amid “increasing cost pressures and consumer uncertainty”, the Guardian reported.
A decision to leave Russia will cost £31m, while new EU tariffs and Brexit-related border costs cost £29.6m in profits and £15m in trade losses.
The retailer said it will move from multi-storey buildings to more modern sites on the outskirts of town with better access and parking.
The news will alarm shoppers and council bosses in Sheffield where M&S has a large store on Fargate.
The once upscale shopping street is now more than 40% empty.
But millions are pouring into the area to rejuvenate the buildings with new uses, including an events and cultural centre, offices and apartments.
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Cole Brothers – Sad photos inside Sheffield’s much-missed business institute…
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Source: www.thestar.co.uk
This notice was published: 2022-05-25 11:42:19