How M&S is dishing out its profits to you: Store opts not to pass on its rising costs to customers

Marks & Spencer revealed a hit to profits yesterday after it opted not to pass on the full extent of its rising costs to cash-strapped shoppers.

Its sales strategy of 'Saturday night has become the new Sunday lunch', in the words of chief executive Marc Bolland, saw the company sell a record number of its 'Dine-in-for-£10' deals. 

About 20million of the dinner, dessert and wine packs were sold in the past six months. 

Mr Bolland said the strategy has allowed even squeezed consumers – who were opting to stay in at weekends – to splash out on premium food.   Read More