Last-minute stampede to shops

A SHOPPING stampede was gathering pace, but it appeared too late to save the High Street from what could be its worst Christmas in a decade. The number of people visiting shopping malls on Monday and Tuesday was up by 9.4% on the equivalent days last year. But it has taken drastic price-cutting to lure people in.

Clothing giant H&M joined the sales bandwagon, following fashion chains such as Gap, Benetton, French Connection, Whistles, Hobbs and many others.

Marks & Spencer, which has staged two unprecedented 20% discount days in the run-up to Christmas, has nevertheless struggled to pull in shoppers. It is claimed that, while sales were strong on these two days, its stores were relatively deserted at other times.

Analysts suggested its trading figures will be down by 10% on last year. The firm has wiped £15m off its profit prediction, taking the figure to £635m.

Other losers appear to include WH Smith, JJB Sports, Clinton cards and the Dixons group. The major department stores, Allders and House of Fraser, have also had a tough time and Debenhams is running promotions up to Christmas Eve.

Retail analysts FootFall said shopper numbers on Tuesday of this week were up around 31% on the same day last week. Spokesman, David Smyth said: 'The week-on-week increase is to be expected at this time of year, but even so is a good indicator that people are finally flocking to the shops.

'This week is showing all the signs of being very good for retailers and making up for some of the ground lost earlier this month. It is also worth noting that 21 December 21 the last day consumers could order goods online to guarantee pre-Christmas delivery.

'It is probably safe to assume that those people who were going to order online but have not managed it to date will be looking to buy on the traditional High Street over the coming few days.'