Why all is well on High Street

FINANCIAL results from retailers this week will show that the High Street spending spree is showing no sign of stopping.

Department stores group House of Fraser, designer outlet Ted Baker, bookshop Ottakar's, clothing chain store Next and Woolworths all report their full-year figures to the City and are being tipped to confirm that consumers are continuing to spend at record levels.

One of the big winners is expected to be premium fashion brand Ted Baker, widely expected by market watchers to comfortably exceed its forecast £13.8m profit for the year and report that trading has been brisk since Christmas.

Woolworths will also unveil full-year results on Wednesday with headline profit figures forecast at about £67.9m against £52.8m last year.

Sales at House of Fraser are expected to come in at broadly the same levels as last year and both Ottakar's and Next are being tipped to lift profits and put out bullish statements about their current trading performances.