Ottakar's warns of 'weakened' high street

<p>Takeover target Ottakar's saw sales increase by 5.7% in the half-year to 30th July, but pretax losses grew by more than 60%, and the retailer warned that "conditions on the high street have weakened over the summer". Like-for-like sales were down 3.8% for the seven weeks to 17th September.</p><p>Sales in the six months to end-July increased by 5.7% to &#163;72.2m, compared with &#163;68.3m in 2004. Like-for-like sales were ahead 0.2%. Ottakar's opened 22,000 square feet of new retail space, bringing its total number of stores to 137. The group's pretax loss was &#163;4.7m, compared with ...

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