M&S CEO warns against mountain of costs facing retailers

M&S CEO Stuart Machin has warned against the mountain of costs facing UK retailers following the Budget, despite Chancellor Rachel Reeves pushing for growth.
Writing in The Sunday Times, Machin claimed the UK’s retailers were being “raided like a piggy bank”.
He said: “Many of the announcements in Rachel Reeves’s speech last month were commendable — a focus on long-term planning, good ideas to free up investment in infrastructure and a more positive tone.