Desperate M&S announces one day 'Magic and Sparkle' sale
Stores have been going crazy with their pre-Christmas sales bonanzas, in a last ditch attempt to not make a loss this year. And tomorrow M&S will be getting in on the act, slashing 30% off clothing and shoes with their one day ‘Magic and Sparkle Spectacular.’
It comes as many high street stores are slashing their prices, with some making reductions of up to 60% off in the week before Christmas. The reek of retail desperation can be sensed from Gap (60% off) to H&M, (same) and House of Fraser and Debenhams have already held ‘flash’ sales.
Stores make almost 30% of their annual profit from Christmas, so it’s vital that they pull their finger out in the festive season. Unfortunately, with the warm(ish) weather and the fact that NOBODY HAS ANY MONEY, trade has been as sluggish as Joey Essex’s synapses.
Still, it's good news for us in the short term, especially if you’re running around like a blue arsed fly trying to finish your Christmas shopping, because almost everything in the high street is on sale.
But the retailers are really struggling. £178 million in M&S shares were lost due to speculation that the store won’t do very well this year, and shares in Tesco, Morrisons, Sainsbury’s and Debenhams fell, too. Magic and Sparkle? Magic and STRUGGLE more like!!!!!!
(I'll get my coat.)
ANYWAY, economic misery is almost guaranteed, but at least you might get a cut price shower gel set for your Nan. After that, we're all doomed.
TOPICS: High Street News