now joining me right now around the desk is richard lim, ceo of retail economics to help us put all the different pieces together we've now heard from a number of the u.k. retailers through the christmas period what do you make of the results that we saw today from m&s and tesco and how this fits into the broader picture of how u.k. retail is doing? >> overall i think what we're actually seeing is a few distinctive friends that are emerging over the christmas period i think the first thing to mention is christmas is becoming an increasingly online event the portion of christmas spending that's migrated towards online has increased on this time last year you mentioned the tlc figures is 30%. it was over 1/3 in november and so this migration towards online continues and that continues to put traditional retailers like m&s under pressure because they're having to deal with the shift online while essentially having too many stores, too much space and dealing with that pivot in the business model that's needed. >> now i want to get into that pivot in just a moment, but first on the christmas