No Christmas cheer for fashion firms in never-ending sales

Clothing retailers have felt a pre-Christmas chill slicing through their margins as they try to lure shoppers to spend rather than hold off in anticipation of ever-bigger price cuts. As Julian Satterthwaite reports, this has left investors worried whether recent profit warnings, which have spread to online players such as British online store ASOS from bricks-and-mortar retailers, may be a taste of the future.

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