The group said last month it was facing an extra £32 million in wage costs from Budget measures and that price rises would be ‘inevitable’.
The group said last month it was facing an extra £32 million in wage costs from Budget measures and that price rises would be ‘inevitable’.
Chief executive Alex Baldock said the group does not plan to cut jobs among its 28,000-strong workforce, but is set to cut back on hiring as it faces an extra £32 million in wage costs after recent Budget moves to hike national insurance and the minimum wage. He called on the Government to look at phasing in the increase in employers’ national insurance contributions, which is due to come into effect from April, to help soften the blow, as well as to overhaul business rates.
It posted a 2% rise in UK like-for-like sales for the 10 weeks to January thanks to strong sales of laptops, mobile phones and gaming ranges, although this was partially offset by weaker trends in television sales.
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