Yet another retailer has issued a profits warning following the bad weather experienced at the end of 2010.
Up-market jeweller Theo Fennell, whose products have been worn by a plethora of pop stars, said that full-year sales due to be announced at the end of March are now set to be below market expectations.
Like-for-like sales for December were down seven per cent as many consumers found it difficult to visit the UK’s high streets and shopping centres due to the snow.
The weather’s impact on trading is highlighted by the fact the company experienced an encouraging start to the Christmas period, with like-for-like retail sales up 22 per cent in the first week of December.
Theo Fennell said: “Sales of the Bees, Spangle and Keys collections were encouraging, however sales of the higher end one off pieces were lower than anticipated due to the shortfall of international clients in London during the Christmas period.”
Strictly Come Dancing judge Alesha Dixon, Girls Aloud singer Cheryl Cole and Spice Girl Emma Bunton are among the celebrities who have been spotted wearing Theo Fennell jewellery in recent months.