The company also noted it expects its own growth to slow this year and cautioned the same will be true countrywide as shops and organisations lift prices, causing a slowdown in consumer spending.
Next said: “We believe that UK growth is likely to slow, as employer tax increases, and their potential impact on prices and employment, begin to filter through into the economy.”
The company expect a rise of around £67m this year on its wage bill as a result of increases to the minimum wage and National Insurance contributions, or £73m for a full year impact. To offset that, a 1 per cent increase in prices of its products will recoup around £13m, with a further £23m saving to be made through “improved working practices and other operational efficiencies in our warehouses, distribution networks and stores”.
Bu hikaye The Independent dergisinin January 08, 2025 sayısından alınmıştır.
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Bu hikaye The Independent dergisinin January 08, 2025 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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