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Shoppers flock to the high street

Retail sales figures in the UK have been seesawing for sometime although yesterday saw the biggest attack on the UK high street by consumers for some time. While the likes of Marks & Spencer and John Lewis remain closed on Christmas Day, all of the major retail outlets in the UK were open on Boxing Day hoping to grab the last of the festive spirit. However, despite the fact the UK is currently in recession it would appear that sales over the festive period may well compare favourably with the more economically friendly times of years gone by.

While the proof is in the pudding, i.e. retail trading figures due out in January, it looks as though the UK retail sector, especially the high street, may well have benefited from a massive late rush from consumers. However, whether this rush of shoppers to the high street will convert into hugely profitable sales for many retailers remains to be seen. Many shops have been forced to discount goods by up to 90% and there are obvious concerns about profit margins.

Prior to the last-minute rush, the performance of individual retailers did appear to vary widely so it will be interesting to see how each of the major retailers has performed over the festive period.

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