Mothercare shares ends day still down 30 percent - haven't recovered from early slump this morning
Shares in Mothercare fell by 30% today after the chain fell victim to fierce Christmas price wars.
Shares in the babycare products chain sank 126p to 294p after confidence in its turnaround plan was hit by today's profits warning.
Mothercare blamed a 9.9% plunge in UK sales on the "highly promotional" nature of the Christmas period and lower footfall.
Sainsbury's enjoyed its busiest trading week ever in the run-up to Christmas, helping like-for-like sales in its latest quarter climb by 0.2%.
Chief executive Justin King said the 14 weeks to January 4 had been a "very tough sales environment" but the supermarket managed to maintain its record of growth - after it was forecast to fall after 35 successive periods of expansion.
Mr King said the seven days prior to Christmas was the group's busiest ever trading week, with more than 28 million transactions.
Waitrose said the strong trading period was driven by growth in online groceries sales, which rose by more than a third in the five weeks to Christmas Eve compared with the same period in 2012.
It said that 619,000 people used their click and collect service in the same five-week period.
Waitrose says it has seen its most successful Christmas on record after sales for the twelve trading days up to December 31 were up 6.5% on last year.
Total sales for the five weeks up to Christmas Eve was 5.4% above the same period in 2012.
It said it also recorded its most successful single day of trading ever after taking £51m on Monday December 23.
Most Britons believe shopping in the January sales is not worthwhile because discounts are available all year, an ITV News poll has found.
According to the ITV News Index carried out by ComRes, seven in ten (71%) agreed that the concept of the January sales seems redundant, while more than half (52%) said the hassle of the sales was not worth the savings made.
Despite this, 61% of respondents agreed that it is possible to find genuine bargains in January.
John Lewis has reported buoyant trading over Christmas with like-for-like sales climbing 6.9 percent over the five weeks to December 28.
House of Fraser also performed well in the festive period, hailing its best ever Christmas with comparable store sales up 7.3 percent.
The finance director of Debenhams has quit days after the retail company issued a massive profit warning.
The company, which lowered its profit outlook after the hoped-for surge in last-minute Christmas shopping failed to materialise, said Simon Herrick had left with immediate effect.
Fears of a slump in the holiday season proved to be unfounded as Boxing Day sales gave a boost to British retailers, The Telegraph reported.
According to the newspaper, shoppers spent over £2.7 billion in stores and online retailers all over the UK.
Analysts have forecasted that shoppers would most likely spend £2.97 billion by Friday both in brick-and-mortar stores and online.
If the prediction comes true, the total will beat last year's figure of £2.8 billion, the report said citing data from the British Retail Consortium and the Centre for Retail Research.