With little sales growth to be found, it is not expected to be a vintage year for any company as consumer confidence and spending power remains weak. Last Wednesday, Next’s shares soared after it reported slightly better than expected sales thanks to belated demand for coats and knitwear when snowy and icy weather hit much of the UK in December. But on Thursday, hopes of a retail fillip were dashed when Debenhams rushed out a profit warning. That may potentially be good news for M&S, which had fewer promotional days in 2017 than the year before, according to Calvert. But she still expects a “mediocre” performance from M&S with clothing sales at established stores down by 3%.

Source: The Guardian January 07, 2018 17:37 UTC