EU Consumer Sector Specialist Commentary

The report highlights risks for M&S and UK food retailers due to potential government food price caps and a cautious FY27 outlook. It also notes a softening consumer backdrop across Europe and significant declines in cognac exports.

Key Takeaways

• 1.Marks & Spencer shares face potential weakness due to limited FY27 outlook guidance and UK government headlines regarding food price caps.
• 2.UK Food Retailers are under pressure as the finance ministry reportedly weighs voluntary price caps on essential items like bread and milk.
• 3.European general retail data indicates deteriorating consumer confidence across Germany, UK, France, and Spain, coupled with rising freight costs.

Table of Contents

• Main Highlights for Today
• In details
• Previews
• Data & Laterals
• Newsflow
• Away from Us
• EU Consumer Research
• Investor Access
• Calendar Ahead
• J.P. Morgan Global Consumer Research
• J.P. Morgan Macro & Strategy Research
• J.P. Morgan Consumer Contacts
• Disclaimers

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