Stuart Machin, M&S's chief executive, expressed relief after years of delays, stating, 'I am delighted that our plans for Marble Arch... have finally been approved.' He emphasized the importance of the development to rejuvenate the UK’s premier shopping street.
Marks & Spencer's Chief Executive Stuart Machin highlighted the challenges the retailer faces with an additional £120 million in costs due to national insurance changes and upcoming wage increases. Despite the pressures, he stressed that the company would strive to avoid passing these costs onto customers, stating, 'We do everything we can. However, we are confronting pretty significant costs to mitigate against.' The company acknowledges the need for careful management amid rising operational costs.