M&S results today reveal a rise in sales but a dip in profits and the CEO says there are more stormy times ahead. 

Melissa explains why, when it comes to Christmas shopping, consumers will look for comfort buys at retailers like M&S, but that these feel-good splurges will mean making cut-backs elsewhere to survive the even tougher times ahead:

“When it comes to Christmas spending, comfort buys of sentimental or traditional items, such as M&S’s Colin the Caterpillar cake with its Christmas makeover will likely be on shopping lists this year and the retailer may benefit from this type of behaviour.

But a feel-good factor splurge here will mean economies will have to be made elsewhere, with cutbacks on the weekly food bill, a move to discount stores or a make do and mend mentality.”