It was a nightmare before Christmas for retail in Britain, with national statistics there showing a sharp drop in sales growth to just 1 per cent in the lead-up to Christmas.
The Financial Times reported steep discounting in the US straight after Black Friday, claiming it was of a rate not seen since 2008.
Fashion label Ted Baker issued a profit warning in mid-December. Earlier in the year, popular high street labels Coast and Karen Millen went...
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