Sno-ones's on the highstreet
The pre-Christmas snow may have meant days off work sledging and generally having fun for some people but for others it was noticeably less welcome. Many high-street retailers have claimed that the weather had a significant impact on sales in the run up to Christmas, with fashion giant Next reporting a drop of 3.1% between August 1 and December 24, reports Sky News.
The company claimed that the adverse weather and strong competition from its high street rivals led to £22million in lost sales. However it's not all doom and gloom for the Next bosses as, with everyone stuck indoors, there was plenty of time for online and catalogue shopping. Next Directory enjoyed increased sales of 8.7% in the 5 month period, with purchases dropping just before Christmas as shoppers feared the weather would affect delivery.
With the cost of cotton and the recent VAT increase pushing up the cost of clothes, shoppers have been eagerly snapping up bargains in the January sales. The Daily Mail reports that people were queuing outside Selfridges on Oxford Street from 4am, and Brent Cross shopping centre was taking £10,000 per minute in sales.