“Tesco and Marks & Spencer reported significant challenges due to rising costs and economic uncertainty, with Tesco shares dropping 4% and M&S shares falling as much as 8.4% in early trading in London. Marks & Spencer's like-for-like sales rose 6.4% during the holiday season, but Chief Executive Stuart Machin acknowledged the external environment remains challenging. Concerns about the UK economy and fiscal plans by Chancellor Rachel Reeves are growing, as retailers face increased staff salary costs. Despite solid holiday performances, weakening consumer sentiment is a major concern for retailers, according to Stuart Machin, who noted a shift from optimism to anxiety among shoppers."