DS Forums

 
 

Marks & Spencer ‘to increase prices by up to 15%’ despite making post-Brexit promise


Reply
Thread Tools Search this Thread
Old 02-01-2017, 10:54
TheEngineer
Forum Member
 
Join Date: Mar 2003
Posts: 4,523

Marks & Spencer ‘to increase prices by up to 15%’ despite making post-Brexit promise to protect shoppers from devaluing pound

https://www.thesun.co.uk/news/251721...valuing-pound/

SUPERMARKET giant Marks & Spencer is set to increase prices of up to 15% on some grocery items – despite bosses promising to protect shoppers for a devalued pound.

It was a move that is said to have angered suppliers, who have since threatened to pull products from the shelves and dubbed his promise “rubbish”.
The unnamed supplier told The Times that the supermarket put itself in a “ridiculously hopeless situation” by making the promise.

Since the EU referendum in June, the pound is down 17.4% against the dollar.

It is also 11.1% down against the euro.
I do hope the M&S shoppers didn't also believe the "let's give the NHS £350m a week".
TheEngineer is offline   Reply With Quote
Please sign in or register to remove this advertisement.
Old 02-01-2017, 10:59
James_Orton
Forum Member
 
Join Date: Aug 2016
Posts: 1,004
What a weird piece, it thinks M&S is a supermarket giant @ 3.5% market share.

If some prices go up 15%, I'm sure some customers will walk away.

Remember it is some prices upto 15%
James_Orton is offline   Reply With Quote
Old 02-01-2017, 11:00
TheEngineer
Forum Member
 
Join Date: Mar 2003
Posts: 4,523
What a weird piece, it thinks M&S is a supermarket giant @ 3.5% market share.

If some prices go up 15%, I'm sure some customers will walk away.

Remember it is some prices upto 15%
Walk away to who? The price rises will be across the board
TheEngineer is offline   Reply With Quote
Old 02-01-2017, 11:05
GreatGodPan
Forum Member
 
Join Date: Nov 2010
Posts: 35,811
Marks & Spencer ‘to increase prices by up to 15%’ despite making post-Brexit promise to protect shoppers from devaluing pound

https://www.thesun.co.uk/news/251721...valuing-pound/





I do hope the M&S shoppers didn't also believe the "let's give the NHS £350m a week".
We could give the NHS more than that if we elected a progressive government.

I wonder how many voters though honestly thought that the slogan of a political campaign group chaired by a Labour MP would be automatically delivered by a Tory government wedded to austerity?
GreatGodPan is offline   Reply With Quote
Old 02-01-2017, 11:07
GreatGodPan
Forum Member
 
Join Date: Nov 2010
Posts: 35,811
Walk away to who? The price rises will be across the board
I thought it says "some grocery items"?
GreatGodPan is offline   Reply With Quote
Old 02-01-2017, 11:07
James_Orton
Forum Member
 
Join Date: Aug 2016
Posts: 1,004
Walk away to who? The price rises will be across the board
To other retailers who are charging less. M&S is a premium brand that has been losing market share for years due to competition.

As a "supermarket" they are down to 3.5%, while as a retailer around 12%. Not the giant that the story indicates.

Currencies have moved around 15%, so prices are expected to rise by around 10% when you take into effect more purchases from UK based suppliers whose manufacturing and supply are more UK based.

Overall prices will go up but our manufacturing base will increase. So yes, we'll all a bit poorer but our economy will be more balanced away from services.
James_Orton is offline   Reply With Quote
Old 02-01-2017, 11:12
kidspud
Forum Member
 
Join Date: May 2010
Posts: 11,490
Marks & Spencer ‘to increase prices by up to 15%’ despite making post-Brexit promise to protect shoppers from devaluing pound

https://www.thesun.co.uk/news/251721...valuing-pound/





I do hope the M&S shoppers didn't also believe the "let's give the NHS £350m a week".
no, I didn't.
kidspud is offline   Reply With Quote
Old 02-01-2017, 11:12
Thiswillbefun
Forum Member
 
Join Date: Dec 2011
Posts: 2,581
Walk away to who? The price rises will be across the board
I think the Brexiters are planning a trip across the Channel to France for their weekly shop.
Thiswillbefun is offline   Reply With Quote
Old 02-01-2017, 11:15
James_Orton
Forum Member
 
Join Date: Aug 2016
Posts: 1,004
I thought it says "some grocery items"?
it did, and upto 15%. So some items may rise between 1 and 15 percent.

I'm sure that happens every year.
James_Orton is offline   Reply With Quote
Old 02-01-2017, 11:27
chavet
Forum Member
 
Join Date: Jul 2007
Posts: 2,344
Walk away to who? The price rises will be across the board
https://www.google.co.uk/amp/www.dai...id-budget.html


Yes, I imagine the companies receiving foreign aid will stick together.

How kind of M&S to offer poor people a course called Emerging Leaders with that money. Wait -- Emerging Leaders? Isn't that a Common Purpose course?
chavet is offline   Reply With Quote
Old 02-01-2017, 11:31
Thiswillbefun
Forum Member
 
Join Date: Dec 2011
Posts: 2,581

I do hope the M&S shoppers didn't also believe the "let's give the NHS £350m a week".
I've said it a few times, but when shopping in M&S in the lead up to the vote, I was very aware of how the newspapers on their stand were filled with anti-EU rhetoric.

Obviously we had The Sun, Mail & Express with big front page headlines such as:
"You pay for Roma Palaces", "We can't stop migrant surge", "EU opens door to 79m form Turkey" etc

https://twitter.com/Far_Right_Watch/...48248933535745

While M&S staff were obviously just putting the newspapers on the stand, M&S have a high percentage of white, elderly customers who would have been targeted by these fake news stories.
Thiswillbefun is offline   Reply With Quote
Old 02-01-2017, 11:34
moox
Forum Member
 
Join Date: Oct 2004
Posts: 14,636
I think the Brexiters are planning a trip across the Channel to France for their weekly shop.
I hope someone tries. It'll be delicious to read about the hassle that they've imposed on themselves
moox is offline   Reply With Quote
Old 02-01-2017, 11:53
Doctor_Wibble
Forum Member
 
Join Date: Oct 2003
Posts: 10,888
... The price rises will be across the board
So just the cheeses then?


And why has this angered suppliers, and why would they threaten to pull stuff from the shelves? If M&S put up their prices to ensure the suppliers can be paid, surely from their perspective that's a good thing? Price fluctuations are an inevitability, demand varies as a result, sounds like the expected pre-brexit turbulence but surely nothing they haven't dealt with before?
Doctor_Wibble is offline   Reply With Quote
Old 02-01-2017, 12:06
James_Orton
Forum Member
 
Join Date: Aug 2016
Posts: 1,004
I hope someone tries. It'll be delicious to read about the hassle that they've imposed on themselves
You think anything is going to change? How sweet.

British tourists will still be able to shop in France without any hassle. Neither France nor the UK want to impose barriers on tourism.
James_Orton is offline   Reply With Quote
Old 02-01-2017, 12:07
Mr Oleo Strut
Forum Member
 
Join Date: Jan 2014
Posts: 2,310
Marks & Spencer ‘to increase prices by up to 15%’ despite making post-Brexit promise to protect shoppers from devaluing pound

https://www.thesun.co.uk/news/251721...valuing-pound/





I do hope the M&S shoppers didn't also believe the "let's give the NHS £350m a week".
Better get used to price increases as Brexit unravels. You've got your country back, and all of its problems.
Mr Oleo Strut is offline   Reply With Quote
Old 02-01-2017, 12:10
Annsyre
Forum Member
 
Join Date: Jun 2003
Posts: 97,111
Marks & Spencer ‘to increase prices by up to 15%’ despite making post-Brexit promise to protect shoppers from devaluing pound

https://www.thesun.co.uk/news/251721...valuing-pound/





I do hope the M&S shoppers didn't also believe the "let's give the NHS £350m a week".
Unnamed sure has been busy lately.
Annsyre is offline   Reply With Quote
Old 02-01-2017, 12:17
MARTYM8
Forum Member
 
Join Date: Jun 2006
Posts: 40,281
People could always try Iceland.

It's not in the EU!
MARTYM8 is offline   Reply With Quote
Old 02-01-2017, 12:18
Doctor_Wibble
Forum Member
 
Join Date: Oct 2003
Posts: 10,888
People could always try Iceland.

It's not in the EU!
B'dum tissh etc
Doctor_Wibble is offline   Reply With Quote
Old 02-01-2017, 12:20
jmclaugh
Forum Member
 
Join Date: Sep 2003
Location: Devon
Posts: 47,989
Usually it is suppliers who increase the price as per the Unilever/Tesco spat so this unanmed supplier source moaning at M&S increasing prices is rather bizarre.
jmclaugh is offline   Reply With Quote
Old 02-01-2017, 12:30
MargMck
Forum Member
 
Join Date: Jul 2012
Posts: 17,635
Better get used to price increases as Brexit unravels. You've got your country back, and all of its problems.
Because for 40 years of the EU no prices ever went up. No businesses ever took advantage of periphery issues to hike profit margins, there were never seasonal or supply price increases on food, fuel or household products.
And no rival shops ever undercut competitors to boost market share and turn casual 'churn' customers into regulars.
It's amazing that we are chucking all this away.
MargMck is offline   Reply With Quote
Old 02-01-2017, 12:32
MajorZero
Forum Member
 
Join Date: Jun 2016
Posts: 23
The same M&S currently busy converting a lot of their stores away from clothes to food only

Not sure I would want shares in them right now then
MajorZero is offline   Reply With Quote
Old 02-01-2017, 12:39
aurichie
Forum Member
 
Join Date: Jan 2012
Posts: 5,100
Sainsbury's have already started jacking up their prices from today. Some of the meals I buy have gone from £3.50 to £4.00. Various other meats and products are 10-15% more expensive. Various loaves and batons are 10% more expensive.

Well done brexiteers!

I'm lucky I can afford to absorb these increases. But there are many, many less fortunate people who are going to be hit very very hard from today.
aurichie is offline   Reply With Quote
Old 02-01-2017, 12:41
hatpeg
Forum Member
 
Join Date: Dec 2006
Posts: 1,984
The Engineer at it again.
Who is this poster?
It could be anyone of the following:

Nick Clegg, Anna Soubry, Will Straw, Tim Farron, Ken Clarke, Kinnockio, or any other sore loser, who can't their own way.
Now getting a bit tiresome, just move on.
hatpeg is offline   Reply With Quote
Old 02-01-2017, 12:42
LostFool
Forum Member
 
Join Date: May 2005
Posts: 59,677
I think the Brexiters are planning a trip across the Channel to France for their weekly shop.
I'm just waiting for the shock when they realise they they will be strictly limited on the amount of booze (and fags) they can bring back once we are out of the Customs Union.
LostFool is offline   Reply With Quote
Old 02-01-2017, 12:42
TheEngineer
Forum Member
 
Join Date: Mar 2003
Posts: 4,523
Usually it is suppliers who increase the price as per the Unilever/Tesco spat so this unanmed supplier source moaning at M&S increasing prices is rather bizarre.
The supplier in question moaned at the time the promise was made - presumably because they knew that with the small margins in food retailing the only way not to put up prices was to squeeze the suppliers.
TheEngineer is offline   Reply With Quote
 
Reply



Thread Tools Search this Thread
Search this Thread:

Advanced Search

 
Forum Jump


All times are GMT. The time now is 20:12.