The impact of another lockdown in the middle of the golden quarter is likely to be heavy. 

Next chief executive Lord Wolfson forecast last week, prior to the latest measures being announced, that two weeks of mandated closures across England, Scotland and Northern Ireland would trigger a 20% drop in full-price sales. That might now prove over-optimistic. 

Primark, one of the high street’s most successful retailers, anticipates a hit of £375m in lost sales.