A raft of panic-stricken retailers have launched their winter sales in a desperate attempt to kick-start spending ahead of christmas flowers uk .
Fashion chain French Connection, which issued a profit warning earlier this month, has brought forward its sale by a week over fears it could be left with mountains of stock as shoppers wait until the last minute to make festive purchases.
American chain Gap launched a 60 per cent-off sale, and home improvement chain B&Q, owned by Kingfisher, starts its January sale today which will run until March – the firm’s longest-ever sale.
Winter woes: The ONS says High Street sales dropped by 0.4 per cent last month
The flood of early discounting is not a healthy sign, as Britain’s battered retailers fight fierce battles using promotions and price cuts to lure the festive pound.
Shoppers are reining in spending on all but the most essential of items, and many know that if they hold out long enough then retailers will slash their prices.
More...
Moss Bros looking sharp again as sales increase by 13pc
Lloyds chief Horta-Osorio splashes out on comeback
Publisher DC Thomson racks up earnings
There was speculation that Sir Philip Green would also be launching sales today at his Dorothy Perkins, Burton, and Wallis chains, but sources close to his Arcadia firm denied this.
It was, however, unclear whether a such a move was imminent in coming days.
The latest official statistics paint a gloomy picture.
Sales volumes for November fell 0.4 per cent from the previous month, according to the Office for National Statistics, with poor sales of computers, watches, jewellery and carpets.
Stripping out fuel, the figures were even worse, down 0.7 per cent as discounts and promotions failed to entice shoppers, casting more doubt over high street prospects this christmas flowers uk blogs .
The drop in sales was slightly bigger than the City had expected and brought to an end two months of growth.
Sofa giant DFS also disappointed, blaming continuing weak demand for a 14 per cent dip in sales to £128.2million in the 13 weeks to October 29.
The private equity-owned firm, which did not give underlying sales or pre-tax profit figures, said underlying profit fell 43 per cent to £15.2million, partly as a result of opening new stores.
There was one glimmer of light. Sports Direct posted flat half-year pre-tax profit of £100million on sales of £888million, keeping it on track for annual profits of £215million.
This profit target would trigger a £12million share windfall for Newcastle United owner Mike Ashley, who controls the firm. The firm (down 9.5p to 190p), said retail revenues increased 8.2 per cent to £697.1million.
