UK Retailers Report Strong Christmas Sales
UK Retailers Report Strong Christmas Sales

UK Retailers Report Strong Christmas Sales

News summary

Major UK retailers, including Next, Tesco, Sainsbury's, and Lidl, reported strong Christmas sales despite economic challenges ahead, such as higher taxes and inflation. Next announced a 6% rise in full-price sales and raised its profit outlook, driven by international demand but warned of potential slowdowns in 2025 due to increased taxes affecting prices. Tesco and Sainsbury's also saw solid sales growth of 5% and 3.5%, respectively, amid a broader retail sector that experienced only a 0.4% increase in overall sales. The British Retail Consortium reported minimal growth in the final quarter of the year, indicating a fall in sales volumes when adjusted for inflation. Upcoming updates from retailers like M&S and B&M will further clarify consumer behavior during the festive season, particularly whether shoppers opted for discount brands or premium offerings. Analysts suggest that while the Christmas period showed resilience, the economic outlook remains cautious as businesses prepare for potential cost pressures in 2025.

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