Bumper sales fails to halt retail sector fears
The number of shoppers visiting stores on Boxing Day was 21.5% higher than a year ago according to figures released by retail analysts Experian.
And yesterday up to 12 million shoppers spent £2.5 billion as retailers offered big discounts to drum up trade. However, there are fears that the rise in spending will not be enough to save some of the weaker players on the high street.
Threatened retailers include lingerie chain La Senza, which announced last week that it plans to enter administration, and outdoor clothing retailer Blacks Leisure which has signalled that it may be sold in a pre-pack administration deal.
Anita Manan, an analyst at Experian, said: “It’s good to see so many people visiting stores and the milder weather has helped. With the quarterly rent due, the difficulty is that they are selling a lot of stock at very low prices.
“What remains to be seen is if this quarter’s takings are enough to see them through this difficult period to the next quarter.”
