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Monday July 09, 2012 - www.knowledgetoactionnews.com - Established 2004
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 News09-07-2012
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