Marks and Spencer will reveal how the ongoing cost-of-living crisis is impacting its customers in the run-up to Christmas as it updates investors this week.
The high-street retailer has seen shares slip this year, as a result of rising costs and pressure on households.
M&S, which unveiled its 2022 Christmas advert last week, has so far highlighted resilient demand from customers returning to stores over the past year.
However, it is expected to reveal a 4.6% increase in total food sales over the half-year to the end of September when it updates investors on Wednesday 9 November.
Analysts have predicted that M&S will reveal a 22% drop in pre-tax profits to £199 million for the half-year.
Profits are also set to drop as M&S faces the cost of higher property taxes and its exit from Russia over its invasion of Ukraine. It also highlighted in May that it could face a hit of £31 million after it decided to completely exit from its Russian arm, which was run by Turkish franchisees and ran 48 shops.
The retailer added previously that it would be impacted by the return of full business rates following tax relief during the pandemic.
M&S’s food joint venture with Ocado also warned over profits in recent months as sales fell.
Analysts at Investec said they expect bosses at the grocer to highlight “solid sales progress”.
