Promotions attracting punters but not to spend

Research by KPMG has found that while discount days and special events are attracting punters it\'s not necessarily spurring them to spend.

Substantial job losses in the City and fears of more to come hit consumer confidence hard.

Retail sales in central London in November were 0.4% lower than a year earlier, on a like-for-like basis, stronger than the 2.6% decline in the UK as whole.

Retail footfall in November was weaker than in the past few months but still just higher than a year ago, in contrast to the year-on-year decline in the UK as a whole.