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Evening Standard
Evening Standard
Business
Simon English

Marks & Spencer boss warns of ‘consumer crunch’ ahead of Christmas

Recession United Kingdom

MARKS & Spencer today warned of a “gathering storm” with the UK predicted to tip into a bleak recession early next year.

The bellwether retailer reported a 24% fall in profits for the half-year to £205 million, partly due to troubles at its online venture with Ocado and a hit from pulling out of Russia.

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