Retailers warned of flat sales over Christmas run-up
Britain’s High Streets are bracing themselves for flat-lining sales over the crucial final weekend ahead of Christmas following publication of new research by Visa Europe.
23 December is traditionally the UK’s busiest shopping day but this time around Visa is warning that sales could be flat as compared with the same day last year.
The pessimism has seen High Street stalwarts such as Marks & Spencer, Debenhams and the main supermarkets all see their share prices suffer as investors take fright at tepid sales.
Analysts at UBS earlier warned that clothing retailers already seem to have ‘pressed the panic button’ with discounts of as much as 60 per cent far earlier than normal.
Fashion retailers have been particularly hard hit by the mild autumn which has seen shoppers delay the purchase of coats and jumpers.