The verdict, from Moss Bros boss Philip Mountford - one of the few store chiefs able to report like-for-like sales and profit growth in recent weeks - will chill hard-pressed retailers.
He said: 'Things are going to be horrid and this Christmas is going to be very tough.' Argos said on Wednesday it was 'planning on the assumption that like-for-like sales will remain in decline for the market for the next 12 months.'
JJB Sports chairman Roger Lane-Smith said: 'I see very few encouraging signs to indicate an imminent end to the difficult trading conditions.'
Tycoon Philip Green believes retailers need to up their game. He said: 'We all know it's going to be competitive. People are being selective in their buying, but the people who have good product will do business.'
Some retailers were more optimistic. Carphone Warehouse boss Charles Dunstone said: 'We expect increased competition because every year retailers look to the mobile market and its growth.' His top tip for this year is the Motorola Razr: 'We have the pink version. We hope every daughter pesters their parents for one this Christmas.'
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