Online retailers including Boohoo and Asos are expected to be revealed as the Christmas winners, outperforming more traditional bricks-and-mortar giants such as Marks & Spencer, analysts have said.
City analysts told The Mail on Sunday that growth at Boohoo is expected to exceed 40% for the four months to the end of December, while Asos will rise by 30%. At its current rate of growth, Asos could end its financial year in August with close to £2bn in sales and Boohoo is expected to exceed £250m this year, the newspaper said.
However, Marks & Spencer is expected to reveal it performed better than the previous Christmas, when clothing sales fell by almost 6%. The Telegraph suggests the retailer could report a 0.2% lift in sales at its clothing and home division, marking only the second time in 23 consecutive quarters that sales have grown in this area.