Marks & Spencer Christmas sales disappoint
In this new period of renewed hope for the UK retail sector a major setback occurred today with news that Marks & Spencer festive sales were up by just 0.8% in the three months to Boxing Day. This is a far less impressive performance compared to the likes of John Lewis and Next and today we saw the share price of Marks & Spencer fall on investors disappointment. So what does this mean for the UK retail sector?
Yet again, just as we seemed to be building up a head of positive steam there has been a major setback for the sector. It would appear that impressive Christmas sales from the likes of John Lewis and Next have not been replicated across the board and we could also see more patchy results in the weeks and months ahead. It is disappointing to say the least, especially when you consider that Marks & Spencer was for many years the bellwether of the retail sector, and many analysts will have to revisit their forecasts for the current quarter.
Whether the Marks & Spencer figures were a "blip" in a generally positive trend in the sector remains to be seen but more and more investors are now sceptical about suggestions that the retail sector is back on the growth track.
Share this..
Related stories
Peter Mandelson advises UK and US consumers to hold steady
Peter Mandelson has today stepped into the limelight to suggest that UK and US consumers should hold a "steady nerve" as their relevant economies continue to struggle. However, when you bear in mind the inflation protected incomes and expenses of the modern-day UK politician, more and more of the UK population are growing tired of being told what to do.
Just a few months ago, with t...
Is Alistair Darling the next Cabinet Minister to go?
It is common knowledge in political circles that the relationship between Gordon Brown and his Chancellor Alistair Darling has dropped to record lows of late. Amid suggestions that Gordon Brown is trying to dictate the policy and direction of the Treasury, Alistair Darling has recently hit back suggesting that yet more debt, bearing in mind the current situation in the UK, would be the wrong move....
Read MoreIs the budget enough for you to start spending again?
While the government has done its bit to try and kick-start the UK economy it appears that the success or failure of the latest plan is down to the UK consumer. However, even at this early stage there are grave concerns that a 2.5% reduction in VAT will have little or no impact on the high street and consumers will continue to hold back on purchases until prices hit rock bottom. There is even a su...
Read MoreIs Lord Turner's position now untenable?
Lord Turner, chairman of the Financial Services Authority (FSA), is today under serious pressure after announcing a vicious attack on the UK financial sector. Despite the fact that Lord Turner is a regulator, and ultimately not in the pocket of the UK financial sector, there is still a need for all parties to work together to reach a common goal in the short, medium and longer term. There is now a...
Read MoreRDR – don’t be left in the Dark
Amid the positives that the Retail Distribution Review (RDR) is likely to bring, especially in reference to the standard of financial advice given, there have been those that have expressed their concern about the amount of people that could be set to miss out on advice in the future. It is thought that the fees that will be charged from the New Year by financial advisers will make it impossible f...
Read More