Paniek bij retailers in de UK: enorme kortingen

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Marks & Spencer to cut 20 per cent of all prices on Thursday

Marks & Spencer is cutting the price of everything in its stores by 20 per cent tomorrow, in the latest sign that high street retailers are taking drastic action to attract shoppers in the run up to Christmas.

The country's biggest clothing retailer will host a "one-day spectacular" tomorrow, according to industry sources. All items, except for food, will be discounted.

It will join Debenhams, which is holding a three-day 'Christmas Event', from Wednesday to Friday, with prices cut by 25 per cent on most lines and furniture prices slashed in half. Bhs, Gap, WH Smith and other retailers are also discounting heavily this week.

Neil Saunders, at analyst firm Verdict, said: "These short, sharp sales are a strategy increasingly used by retailers in the run up to Christmas.

"All the high street is struggling. John Lewis sales, we know, are poor and everyone else will be in a similar boat. Retailers can either sit there and do nothing or they can try and stimulate sales through discounts and promotions."

Sales at John Lewis fell by 14 per cent last week, compared to the same period a year ago, with the department store group admitting it has been hit particularly hard by the collapse in the housing market. Its furniture and homewares departments have struggled as so few people move house.

Last week the Daily Telegraph reported that the amount of pre-Christmas discounts available on the high street had hit a record high, with an 11 per cent increase on the same period a year ago.

Jason Gordon at accountancy firm Ernst & Young, which monitors discounts in the retail sector, said they were "deeper and more widespread" than ever.

"This sale is a footfall driver to get people into the stores to see what stock they have and to get Christmas going. For many retailers Christmas has yet to start," he said.

A host of retailers are discounting their stock substantially this week, with many choosing to cut prices for customers that go online and print out vouchers, which they then need to take to the till.

Gap is cutting 30 per cent off between Wednesday, 19 and Sunday 30 November. Most electrical retailers are cutting at least £50 off most fridges, washing machines and cookers.

Analysts believe that Marks & Spencer has suffered particularly from the impending "white collar" recession that has hit the middle classes, causing them to switch loyalty to cheaper retailers to cut their shopping bills.

Primark, the discount chain, has performed well in recent months alongside the bargain supermarket chains Aldi and Lidl as they attract more middle class shoppers.

Matthew McEachran, retail analyst at Singer Capital Market, said: "This [M&S sale] is clearly a big campaign to clear the decks of coats and knitwear after a pretty mild Autumn. The harsh reality is that the consumer is cutting back on spend."

M&S would not comment on the sale, but further signs of the company's difficulties surfaced yesterday, when it announced that George Davies, the creator of M&S's Per Una fashion range, is quitting.

In a statement M&S said Mr Davies, who founded the label, will step down at the end of next month.

A spokesman for the retailer said there had not been any rift between Mr Davies and M&S's management, led by executive chairman Sir Stuart Rose.

"George just decided it was the right time for him to retire ... he's 67, he's done a fantastic job establishing Per Una and we wish him well for the future," she said.

Bron: Telegraph.co.uk

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Op donderdag 20 november 2008 20:43 schreef LXIV het volgende:
Toen ik de titel las wilde ik ook al deflatie intikken!

Nu de huizenprijzen nog omlaag en het gaat echt goed.

Jammer dat ik al mijn GELD in aandelen heb zitten, dus heb ik er verder weinig aan!

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Op donderdag 20 november 2008 20:44 schreef Revolution-NL het volgende:

[..]

Meer koopkracht

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Op donderdag 20 november 2008 20:51 schreef LXIV het volgende:
Het consumeren van de vermeende overwaarde op woningen is een heel belangrijke aanjager van de economie geweest. Zeker in Nederland. Die factor valt óók weg de komende jaren.

Het wordt nog gezellig!

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Op donderdag 20 november 2008 20:58 schreef LXIV het volgende:
Kán dat zomaar in Nederland? Loonsverlagingen? Volgens mij niet, hooguit loonmatiging. Loonsverlagingen drijven de deflatie enkel maar op trouwens.

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Op donderdag 20 november 2008 21:13 schreef sitting_elfling het volgende:

[..]

Overigens wordt M&S hier gezien als de winkel als je genaaid wil worden in je portemonee, je daar heen moet gaan, dus zo héél gek is het niet dat ze hun prijzen verlagen. M&S is gewoon een tievus dure winkel.

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Overigens wordt deflatie over het algemeen erger gezien als inflatie.