M&S will not raise prices to offset Brexit-induced drop in the pound

LONDON, Nov 8 (Reuters) - British retailer Marks & Spencer does not plan to raise its prices on clothing and othergoods to compensate for the fall in the pound caused by theBrexit vote, its chief executive said on Tuesday.

"We've obviously got currency pressures that have come ontous recently but we intend to mitigate those through bettersourcing, by better volumes with our manufacturers and ourintention is that we won't have to pass those price rises ontothe consumer in the New Year," Steve Rowe told BBC radio. (Reporting by Costas Pitas; editing by Guy Faulconbridge)