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Miracle on High Street Needed in U.K.’s 2008-Like Xmas: Retail

U.K. retailers relying on Christmas to save their year may need a miracle.

December retail sales in the country will be no better than last year’s 36.2 billion pounds ($57 billion), according to Deloitte LLP. That would be the first holiday with no growth since 2008, when the financial crisis that followed the collapse of Lehman Brothers Holdings Inc. caused consumers to cut back.