Christmas Party on Britain’s High Streets

Britain’s high street retailers enjoyed one of their best ever Christmases “despite Brexit“, a snowstorm of positive trading reports reveal. Marks and Spencer group sales were up 5.9% in the 13 weeks to the end of December, with a 2.3% uptick in like-for-like sales by its previously struggling clothing line (smashing a gloomy 0.5% estimate). Sainsburys had a Christmas cracker with more than £1 billion in sales. Lidl reported yuletide sales growth of 10%. Online clothing firm Asos reported sales were up 36%. The FT writes:

“It’s such a disappointment for the gloomsters. The plunge in sterling after the June vote was going to produce a surge tide of inflation to overwhelm static pay packets. Shoppers would be reduced to window-shoppers and, even though we never believed George Osborne’s silly pre-referendum scare stories, a bleak midwinter loomed for the high street. It hasn’t turned out that way.”

How will Christmas be different after Brexit? No Brussels… 

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