Debenhams has confirmed it will launch its pre-Christmas Spectacular on Wednesday, promising more price cuts than the same Sale last year.
The department store will deliver £250m worth of price cuts, and will slash prices for four days from Wednesday, as revealed by Retail Week last week.
Debenhams, which factors in promotions as part of its annual budget, will cut prices on tens of thousands of items across all categories in its 150 stores and online, six weeks before Christmas.
Debenhams is the first high street retailer to launch a blanket promotion in the run-up to Christmas, and has fired the starter gun in the race to get customers shopping in the festive build up.
On the equivalent day last year, Debenhams launched a similar Spectacular which offered £200m of price-cuts and lasted for three days before being extended to cover the whole of the following weekend.
Marks & Spencer followed suit with a 20%-off promotion the following day, however, this year, M&S chairman Sir Stuart Rose vowed to remain full-price in the run up to Christmas.
Last year, retailers embarked on a discounting war on the back of a fall in consumer spend in the wake of the financial crisis.
Debenhams deputy chief executive Michael Sharp said: “Customers everywhere continue to feel the pinch in this recession. In fact many feel that there still is no light at the end of the tunnel. They want us to reduce prices now, so that’s what our Christmas Spectacular will do.
“With VAT set to increase in the New Year we really are offering January Sale value at a time when shoppers want it most,” added Sharp.
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