According to footfall figures from Experian the number of shoppers going into stores was 8.4 per cent lower than the same day last year, however, John Lewis reported sales up 6 per cent in its department stores on Saturday compared with last year.
Sales for the week to December 20 at John Lewis were up 1.3 per cent week-on-week but down 1.8 per cent on last year.
Retailers have been slashing prices to try and tempt shoppers through their doors after a sluggish start to crucial Christmas trading period.
BRC director-general Stephen Robertson said: “Offers are at a crescendo level. I don’t think we’ve seen this level of aggression ever.”
According to Ernst & Young the average discount on goods could top 40 per cent by Christmas, at present they have been cut by 38 per cent so far.
Singer Capital Markets analyst Matthew McEachran said: “The margin performance this year could well be the worst on record.”
He added: “Although the issue of a stock problem emerging after Christmas is diminished, we continue to believe that a reversion to normal discretionary times will leave retailers’ sales back at very depressed levels again.”
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