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Press Release

11 January 2018

Christmas delivers a mixed bag for retailers

“The Christmas retail figures announced so far have been a mixture. It’s been a bumper Christmas for some, as Boohoo announced a 107% increase in group revenues between August and December 2017. It also looks as if Moz the Monster gave John Lewis a helping hand over Christmas, as the store’s sales were up 2.5% in the six weeks to 30th December, while Waitrose sales were up 1.6% in the same period.
 
“Tesco has had a good Christmas overall, announcing strong festive sales with a like-for-like sales increase of 2.3% in the UK and Ireland in the 19 weeks to 6th January.
 
“Not all stores have shared the festivities, as Marks & Spencer have reported a 1.4% fall in like-for-like sales in the 13 weeks to 30th December. Clothing and home sales were down 2.8% whilst food sales dipped 0.4%. Following on from Debenhams’ disappointing results last week, fellow department store House of Fraser has seen its in-store sales drop almost 3%, whilst online sales were down 7.5% in the six weeks to 23rd December.
 
“As the rate of inflation rises past wage growth, it is perhaps to be expected that shoppers would find themselves spending more on food with less left over for gifts. This is shown by Tesco’s results – whilst they have seen record fresh food sales, they saw lower of gifts such as DVDs and games.”
 
Christmas delivers a mixed bag for retailers
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