High Street shops face “catastrophic” Christmas, warns data firm

High Street businesses are heading for a “catastrophic” Christmas, warns a data analyst.

Covid-19 threatens to all but wipe-out spending in shops.

Even Marks & Spencer is expected to record its first loss in its 94-year-old history.

The ubiquitous company managed to make a profit during WWII.

City analysts think the company will report a £59 million pre-tax loss for the six months to September.

The poor results come as data firm Springboard predicts actual visits to a High Street shop will fall by more than 87% over the festive period.

And shopping in all outlets is expected to fall by 62%.

The figures were released before the Government announced a national lockdown starting Thursday.

Experts believe footfall numbers could drop even further.

 

 

 

 

 

 

 


About the Author

Philip Braund spent 16 years at the Daily Mirror as a reporter and news editor before moving to ITV. He was the series producer of the ground-breaking investigation programme The Cook Report, Managing Editor at ITV's Millbank Studios, and Head of News at ITV Central. He has won national and regional Royal Television Society awards for documentaries.



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