Tough Christmas for retailers as shoppers feel the squeeze

M&S and Tesco deliver disappointing results, while John Lewis rings up bumper sales but warns profits will be dented by Black Friday price cutsThree of the UK’s biggest retailers have delivered disappointing Christmas figures as weak consumer confidence and ferocious online competition take their toll on the high street. Marks & Spencer, John Lewis and Tesco reported their Christmas sales on what had been billed as Super Thursday in the City, but it proved to be a flop with investo