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The firm has faced post-Brexit difficulties in supplying food from Britain to its stores in the Republic of Ireland.
MARKS & Spencer has said it will increasingly turn to locally sourced food products to mitigate the impact of Brexit on its Irish operations.
Marks & Spencer has warned of the risk of price pressures, less choice, and food being thrown away when post-Brexit rules on imports from the EU take effect at the start of next month.
Marks & Spencer has warned that up to 15% of its food product lines could be unavailable in its Northern Ireland shops in January.
Marks & Spencer says Brexit and the Irish Sea border have added about £30m of costs to its island of Ireland business.
Prices will soar and border delays will halt fresh food imports following the "shock" of a no-deal Brexit, Britain’s major supermarkets have warned.
Marks & Spencer expects to incur between between £42 million (€49 million) and £47 million in Brexit costs for the current year, with a particular impact upon its business in the Ireland.
The retailer held a meeting with its EU suppliers on Friday amid worries the stricter border controls will deeply affect its entire supply chain.
Sacha Berendji also told a House of Lords committee that M&S had faced increased costs and wastage due to new rules and administration.
A grace period on food imports checks is set to end on 1 October.
Marks and Spencer’s chairman Archie Norman: Plans to ease post-Brexit trade ‘overbearing and baffling’
26/01/2023
Marks & Spencer’s chairman has become the latest business leader to criticise the Government’s economic policy, with Archie Norman calling plans to ease post-Brexit trade “overbearing” and “baffling”.
Items to disappear from supermarket shelves and prices to increase if UK crashes out of EU, group including Lidl, the Co-op, Pret a Manger and KFC say.
Marks & Spencer says complex procedures resulting from EU withdrawal impacting on its performance.
Sweets are among retailer’s products affected by ‘rules of origin’ regulations.
UK clothing and food retailer Marks & Spencer on Wednesday reported a 7.8 per cent decline in annual profit, as strong sales growth was offset by inflationary pressures and the impact of Brexit-related costs on the Irish food business.
Supermarket prices will rise more than is necessary unless there is greater collaboration with European suppliers on post-Brexit trade frictions, a Dutch business has warned.
“And what's the Brexit dividend here? S-Group has already turned to French retailer Carrefour to fill the gap left by Tesco," a journalist has said.