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M&S downbeat on consumer spending


M&S downbeat on consumer spending


British retailer Marks & Spencer is cautious about the outlook for consumer spending in the UK ahead of expected tax rises.

That statement came as it posted a smaller rise in annual profit than most of its major rivals – up five percent to 742 million euros.

Britain’s top clothing retailer, which also sells food and houseware items, said it had made a satisfactory start to its new financial year.

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