The outlook for the high street in the critical run-up to Christmas is as polarised as whether rock chick or 1980s glamour will win out as the key fashion look for the party season.

As retailers and investors struggle to decipher the consumer mood from the latest figures delivered by the fixtures of the UK retail scene in the past few weeks – from Marks and Spencer to Mothercare, and Debenhams to Tesco – it appears that confidence has held up better than many expected when the UK economy lurched downwards last year.