The company's warning yesterday came as other UK retailers' share prices took a hit as stock market investors continue to digest the implications of the changes to employers' national insurance contributions (NICs) announced in Rachel Reeves's first budget as chancellor.
Marks & Spencer (-4.8%), JD Sports (-2.6%) and Tesco (-1%) were among the fallers on the FTSE 100, pulling it down to a three-month low. On the FTSE 250 index of smaller companies, the share prices of the bakery chain Greggs (-6%) and the pub group Mitchells & Butlers (-7.7%) also fell.
The share price of the prison contractor Serco dropped nearly 10% yesterday, making it the biggest faller on the FTSE 250, after it told investors changes to employer NICs will cost it about £20m a year. Serco's share price was also affected by its announcement that it had a key contract with the Australian government's Department of Home Affairs to provide onshore immigration detention facilities and services.
Denne historien er fra November 09, 2024-utgaven av The Guardian.
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Denne historien er fra November 09, 2024-utgaven av The Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Peace deal
What will the agreement entail?
'I felt the scapegoat' Bellingham laments media treatment on England duty
Jude Bellingham has said he felt the \"whole world crumbling down on me\" after being mistreated and made a scapegoat for England's defeat in the European Championship final.
United spent £8.6m sacking staff in drive to cut costs
Manchester United spent £8.6m on redundancies in the first quarter of its financial year due to Sir Jim Ratcliffe's drive to reduce the workforce from around 1,000 by 250, the club's latest accounts show.
Slot says contract dispute may be bringing best out of Salah
Khephren Thuram on his father Lilian's activism, what Thierry Henry always told him, and facing Aston Villa
Saka leads Arsenal's charge to blast away doubts on the road in Europe
This was some response to charges of being shot shy. Arsenal's lack of cutting edge on foreign trips had been the pre-match talking point but it turned out they had saved up a hiding for the continent's form team.
City stunned by late fightback as Guardiola's winless run goes on
Manchester City's losing sequence is over - just. But they are still a listing ship that can go down at any moment.
Kerr breaks new ground coaching men at Hearts
Shelley Kerr will lead male player development at the Edinburgh club
'He's a cool cat' Special Bethell ready to pounce on Test debut
Test debutant has impressed everyone from a young age but can he carry off batting at No 3 against New Zealand?
West Brom deny Isidor and hold out for draw
Sunderland extended their unbeaten run to 10 games but, as the smattering of gentle boos that greeted the final whistle testified, it was most certainly not a cause for celebration on Wearside.
George in the groove and ready to rock for England
Manchester United left-back was never going to let rehab end her dream and hopes for a Wembley bow against USA
