After Christmas relief UK retailers face 2023 reality check

Updates next week from Britain's biggest retailers including Tesco, Sainsbury's and Marks & Spencer are expected to confirm that while Christmas was not the disaster that some had feared, consumer demand is set to weaken in 2023, denting profit, Qazet.az reports according to Reuters.

Ahead of Christmas, European retailers fretted that the key trading period could be the worst in at least a decade.

But in Britain, despite UK inflation running at 10.7% and consumer confidence close to record lows, retailers that have reported so far on festive sales, including clothing retailer Next, fast food chain Greggs and discounters B&M and Aldi UK have performed well.