Wincanton feels the chill from slowdown in high street sales

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The Independent Online

Wincanton, one of Europe's biggest hauliers and logistics groups, has warned its businesses will be hit this year as shoppers shun the high streets, meaning shops are not restocking.

Wincanton shares crashed more than 12 per cent yesterday after the company – which counts Tesco, Sainsbury's, Britvic and WH Smith among its clients — admitted it was suffering from empty warehouses. And the problem is not going away.

"Market conditions have been challenging in the retail and fast-moving consumer goods sectors and the containers business, and we expect these to remain for the year ahead," Wincanton said.

The company also said it was looking for ways to slash costs.