People passing Cafe Nero in York, UK 29th October, 2014. Retail Woes in Coppergate as Women Eschew Autumn Fashions with forecasters predicting continuing warm weather for the Autumn. This October is one of the hottest on records, high street retailers warn to expect a fall in sales. Shares in clothing retailers have been hit as the forecast suggests a drop between 1% and 4% in the last three months.
Next has warned annual profits will be lower than expected after unseasonably warm weather deterred shoppers from buying coats and knitwear. The warning by one of Britain’s most successful retailers prompted fears of falling profits across the high street as fashion chains are forced into discounting to clear unwanted stock ahead of Christmas. Next said sales rose at about half the rate it expected in the three months to the end of October and warned that the following three months were also likely to be less buoyant than previously expected. The retailer’s shares slid early on Wednesday, dragging down shares in rival groups including Marks & Spencer, Debenhams, Supergroup and Ted Baker, as investors worried about the impact of the weather on their trading.
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