Marks & Spencer is to hold a one-day Sale tomorrow as it looks to lure last-minute Christmas shoppers to stores.
The retailer will offer 30% off fashion and gift lines in the Magic & Sparkle Spectacular – the same discount it has already offered on its beauty, nightwear and Per Una lines this week.
M&S has not held such a Sale since chief executive Marc Bolland joined the retailer in 2010. He is under pressure to deliver a strong performance in non-food over Christmas after reporting continued weak sales in 2013.
The move comes as PwC data showed the average discount across the high street rose to 46% compared with 42% last week and 44% in the same week last year.
The study showed 72% of the 100 high street retailers monitored were advertising Sales or promotions.
Gap has extended its price cuts from 50% to 60%, while Debenhams is offering 50% off and House of Fraser up to 75% off.
Retailers told Retail Week this week that consumers are leaving their shopping until the last minute and a four-day spending spree is expected in the run-up to Christmas, starting tomorrow.
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