UK retailers Marks & Spencer and Primark to report results amid fragile consumer spending

Major UK retailers, including Marks & Spencer, Next, and Primark’s parent company, are scheduled to provide investor updates next week. These reports are expected to offer insight into UK consumer sentiment as the country approaches the Christmas period.

Recent data from the Office for National Statistics indicates a fragile economic backdrop, with retail sales volumes falling by 0.4% in September due to slow demand for autumn and winter clothing. Factors such as rising energy bills and broader economic concerns are reportedly weighing on consumer spending habits.

Marks & Spencer is projected to report a significant rebound in clothing and home sales, with profits expected to more than double to approximately £390 million for the half-year ending in September. This recovery follows a major cyber attack last year that disrupted online sales. Additionally, the retailer aims to demonstrate continued growth in its food business.

Online fashion retailer Asos is also set to reveal its annual figures on Thursday as part of a major turnaround plan. The company has faced challenges following a cyber attack that contributed to a 15% drop in share prices this month. Asos has also indicated it is seeking to recoup £7 million in refunds related to US tariffs paid during the first half of the year.