Case Study Of Woolworths

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The dramatic move comes as its high street rivals Next revealed like-for-like sales across its high street stores fell 7% between the end of July and December 24 – worse than the 4.4% fall reported in November.

Meanwhile, the last remaining Woolworths stores will close their doors for the final time at the end of trading today – leaving 27,000 workers out of work.

The closures bring to an end a massive clearance sale which even saw the stores’ fixtures and fittings sold off at bargain prices.

Next said today it had made a “good start” to post-Christmas sales despite further trading declines in the run-up to the festive season.

But unlike rivals, Next refused to slash prices in the approach to Christmas – and said it expected clearance rates to be ahead of last year after a good start to its sale period.

While the high street was busy over Christmas, the British Retail Consortium warned that a last-minute boost would not make up for hard times.

Worsening economic conditions have hit retailers hard, with crystal and china maker Waterford Wedgwood becoming the latest firm to call in administrators.

Deloitte is now hunting for a buyer in a bid to save the stricken company.

A string of businesses such as children’s clothes retailer Adams, Woolworths, music and entertainment chain Zavvi, and MFI collapsed recently.

However, Debenhams today said profits were up on last year after the department store chain achieved a “creditable” Christmas trading
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