Strong high street sales over the vital Christmas period are expected from a string of retailers this week as trading updates confound earlier gloomy forecasts. Industry experts warn that in many cases the better than expected figures have been at the expense of profit margins.
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M&S will stand out having avoided pre Christmas discounting and analysts are upbeat in their forecast for M&S sales saying that there will be a significant improvement in margins. HMV will report its figures on Thursday and has already revealed that like-for-like sales at its music and DVD stores were down 11.5 per cent in the three months to September 24th.
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