High street fashion favourite Next is the first major retailer to report on its trading during the vital festive season. BBC Radio 4’s flagship consumer programme You & Yours examines what the disappointing outcome means for the rest of the UK retail sector.

Our Business Risk Adviser, Nick Hood was interviewed by Winifred Robinson.  He expressed his concern that if such a well managed and efficient business as Next was having a tough time, then the rest of the sector should be very concerned.  He warned on a variety of adverse factors impacting on the profitability of retailers.  These included chains having too many physical stores, excessive deep discounting, the impact of the fall of sterling on costs and the pernicious practice of allowing unlimited free returns.

Click on the link below to listen to the whole interview, which starts 17:00 into the programme:

http://www.bbc.co.uk/programmes/b086kxsw#play