High street sales down

Shopkeepers have started lowering their prices well before the start of the summer sales - because the bad weather and a sluggish economy have had an impact on consumer spending.

The summer sales officially start on June 25. Along with the New Year sales, it is the only time of year when shops are allowed to sell their wares at a loss.

Lucien Odier of the Fédération des Enseignes de l’Habillement retailers union said that trade in the run-up to the sales had been slow.

He said: “Even Father’s Day (June 15), which usually generates good turnover, was terrible.

“The sales will be an excellent time for consumers. Everybody has a lot of surplus stock on their hands.”

The Bill to Modernise the Economy (LME) which will be considered by the Senate on June 30 and was a central plank of Sarkozy’s election campaign.

The LME allows for traders to choose freely two weeks in the year when they can have their own sales.

This period would be in addition to the two fixed national periods in the summer and winter.