Festive Sales

The retailer has experienced 9.1% of decline in sales over the festive season and the January sales period, usually the busiest shopping time of the year for retailers. It is reported that the lack of sales it being blamed on the cold weather and snow, leading shoppers to stay indoors. It is no doubt that the heavy snow we recently experienced prevented many to from travelling but it seems it has had a denting effect on high street brands.

 

The 9.1% decline for New Look is worth £15m loss of potential profits. However, New Look is not the only retailer feeling the knock on affect of the icy weather. Next has also estimated that £22m is lacking from their items sold.

 

It is also a possibility that the snow is not the only factor to have contributed to this disappointed sales period. Many have felt the pinch this year after the Christmas spending as more jobs are cut, and we faced the VAT rise during the beginning of January.

 

Evidently there have been some losers during the sales, but there have also been winners. House of Fraser announced a 8.5% rise in their sales. It would seem that even though some retailers have had a difficult time, others have managed to maintain a healthy level of custom.