British retail icon M&S has issued a bleak update to food and clothing shoppers ahead of the Christmas. The retail giant said it would announce a rise in costs today, which would increase prices for customers if passed on.
M&S management last week also said the firm was experiencing stock delays of around three weeks, according to notes from an investor event.
The firm said this was in line with other retailers, though chief executive Steve Rowe said "considerable challenges in the supply chain remain". READ MORE: All shoppers urged to check purses for 'special' £5 notes worth more than £100 Today (November 10), Marks & Spencer increased its annual profits outlook for the second time in less than three months after a sales rebound.
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