Pressure mounts for retail bosses following Christmas shopping results

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Pressure mounts for retail bosses following Christmas shopping results

It will be a huge week in the retail sector due to Christmas trading results.

Marks and Spencer CEO Marc Bolland will be under pressure following last week’s announcement non-food sales were down during the festive period.

The internet sales fall was blamed on problems at the group’s distribution centre at Castle Donington in Leicestershire. But an unseasonably mild autumn and winter have also hit the group.

Pressure is also mounting on Morrison’s boss Dalton  Philips following Christmas trading results showed the supermarket was the worst performing.

Analysts have predicted the chain will post a 3.8 per cent fall in like-for-like sales for the six weeks leading to January 4.

The results are those reported by Tesco and J Sainsbury for the latest quarter.

Elsewhere, tool and equipment hire company HSS is set to join the London Stock Exchange.

It’s estimated the company will be floated for £300million.

Jamie Dunkley, London Evening Standard business correspondent, explains more. 

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