Clothing retailer Austin Reed has posted a year-on-year sales slump of 11.7 per cent for the 15 weeks to November 22, saying trading conditions had deteriorated since the announcement of its half-yearly results last month.

The company, which is hoping for an upturn in trading over the Christmas-New Year period, also saw retail sales fall 5.5 per cent year-on-year for the period.

"At this stage, however, we consider it unlikely that the recent sales decline will be reversed in the remainder of the financial year," a company spokesperson said.

Recently, the North Yorkshire-based company successfully revamped its flagship London store, with a relaunch of the Country Casuals brand planned for the near future.

The company's namesake brand has also been given a management reshuffle of late, and a new range of soft-lined luxury casuals is due to be released under the label in spring.

Austin Reed currently operates 47 namesake retail outlets and 64 Country Casuals stores across the UK.