Disappointing festive figures revealed
THE extent of retail’s toughest Christmas for years began to emerge today as two of the UK’s biggest high street names announced falling sales over the Christmas period.
Fashion chain Next said like-for-like sales across its high street stores fell 7% between the end of July and December 24 - worse than the 4.4% fall reported in November, but just within the lower end of its previous forecasts.
But it added it had made a “good start” to post-Christmas sales.
Debenhams also said like-for-like sales had fallen 3.3% for the 12 week period since October 21 - but profits were up on last year.
But Marks and Spencer today refused to comment on reports its was planning to axe more than 1,000 jobs. The group will announce its festive trading figures tomorrow - which are often seen as a barometer of high street trading.
Meanwhile administrators for childrenswear retailer Adams were today continuing to seek a buyer for the business which yesterday closed 111 stores, including branches in Stockton and Hartlepool.
PricewaterhouseCoopers (PwC), which was appointed to the firm on New Year’s Eve, said it had received a number of expressions of interest in the business and brand from prospective buyers.
The remaining 160 Adams stores - which include branches in Middlesbrough and Redcar - will remain open while efforts are made to secure a sale.
And workers at Redcar’s Woolworths store were among those at the company’s remaining 200 branches which will close at the end of today.
See tomorrow’s Evening Gazette for a full report on the closure of Woolies’ Redcar branch.
HIGH STREET TROUBLES: Efforts are still being made to find buyers for Adams, which closed 111 stores, including Stockton and Hartlepool, yesterday. Debenhams has announced falling sales and M&S won’t comment on job cuts speculation
