High street stores cut prices after disappointing summer
Stores including French Connection, Debenhams and Warehouse have introduced discounts on bikinis, summer clothes and dresses to equate to savings of around £300 million.
A growing number of big-named high street retailers are cutting prices by up to 70 per cent in a bid to claw back customers following a disappointing summer.
According to financial giant PwC, some nine-in-ten clothing chains were on sale and offering average discounts of 55 per cent over the weekend, representing the highest ever price cuts for a July.
The wettest June on record - as well as the subsequent bad weather - has resulted in a slump in the number of people hitting the high street this summer.
It has resulted in Marks & Spencer offering 20 per cent off all swimsuits, while DIY giant B&Q has reduced the price of a selection of its barbecues by almost a third.
Speaking to the Daily Telegraph, director-general of the British Retail Consortium Stephen Robertson said: "We hoped the Jubilee and the European football would catch the mood of the nation and make us more confident but that doesn't seem to have happened."
- Knowledge to Action News
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