All Saints has reported a strong festive period, with like-for-like sales up 32% from December 1 to date.

All Saints chief executive Stephen Craig said December and January have been “above expectations”.

He said the young fashion chain has benefited from less than budgeted markdowns in the run-up to Christmas and tight stock control. He said it has maintained double-digit like-for-like growth during this month’s snow disruption, and its web operation has benefited from shoppers staying home and shopping online.

All Saints is also understood to be in negotiations to take the Nokia store on Regent Street for a flagship, which Nokia wants to exit.

The Christmas trading period compared with a turbulent festive period in 2008 when All Saints was hit by supply chain issues caused by the loss of credit insurance following the collapse of then-backers Baugur and Icelandic bank Glitnir.

Last year, All Saints secured a £30m investment from Lloyds TSB Corporate Markets.

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