Update due from two high street brands

Two of the UK’s biggest high street brands will reveal how the soaring cost of living is impacting customers in the run-up to Christmas as they update investors this week.

Marks and Spencer and Primark’s parent firm Associated British Foods have both seen their shares slip this year as rising costs and pressure on households eat into their financial performance.

High street stalwart M&S has so far highlighted resilient demand from customers returning to stores over the past year.

It is expected to reveal a 4.6% increase in total food sales and 7.1% rise in clothing and home over the halfyear to the end of September when it updates investors on Wednesday.

Analysts at Investec said they expect bosses at the retailer to highlight “solid sales progress” across both the food and clothing and home divisions.

Elsewhere, Primarkowning rival ABF will also fall under the investor spotlight.

The company, which also owns a raft of grocery brands including Twinings and Ryvita, will deliver its full-year results in an update tomorrow.

Once again there will be a focus on how consumer sentiment is faring after the firm warned in September that profits are set to fall next year.

Earlier this year, the group lifted some prices at Primark but said in the update it will hold off from further increases as shoppers see their spending power impacted by rising energy bills.

The company is expected to reveal that sales increased by around 20% to £16.7 billion for the past year. But investors will be particularly keen for more clarity on the firm’s outlook.