High street generals who planned holiday sales tactics for their stores are perplexed with their mixed sales results from similar strategies.

Debenhams and Next have both performed better than expected – sending their shares soaring on the stock market – while Marks & Spencer’s is reportedly looking to axe 1,000 staff after a poor return.

Fashion retailer New Look bucked the trend with sales rising 2.8% in the 14 weeks to January 3.

Both Debenhams and M&S ran a series of sales in the run up to Christmas. Debenhams recorded a 3.3% drop in sales over the 12-week lead up to Christmas, which is a far better performance than expected. Debenhams shares climbed 31% to 37.5p in response.

M&S will report festive sales figures tomorrow, but the company is refusing to comment on rumours of disappointing sales and plans to lay off 1,000 staff. The store invested heavily in a TV and press campaign to persuade shoppers through the doors.

Meanwhile Next did not cut prices in the Christmas run-up reported combined sales from stores and directory fell by 1.9% between August and the year end – again above City expectations. Shares rose 8% to £11.80.

The problem for the stores now is no single sales tactic seems to work – a mix of advertising and sales worked for Debenhams but not M&S. No pre-Christmas discounts worked for Next.

Logically, the if the sales-and marketing mix works for one store and not another, the next place to look is products and pricing, that must be leaving the M&S brand worrying about business prospects for the next 12 months.

On the markets, The FTSE100 moved up 17.80 points from 4561.80 to 4579.60. In New York, the DOW lost 81.80 points down to 8952.89 from 9034.69.

The pound lost a cent against the US dollar, closing at $1.45 and moved fractionally against the Euro, finishing steady at 1.04 Euros.