Marks & Spencer Group Plc, the U.K.’s largest clothing retailer, said it won’t get drawn into a Christmas price war after smaller rival Debenhams Plc announced it will start discounting six weeks before the holiday.
“We’re confident we have the right Christmas offer for our customers,” M&S spokeswoman Emma Johnson said by phone when asked about the Debenhams promotion. The retailer has a “range of tactical promotions that will take us through to Christmas.”
M&S Executive Chairman Stuart Rose said this month that the retailer planned to trade at “full price” through the festive season and would add 1,000 new specialty holiday food lines to help bring in shoppers. In each of the previous two years, M&S has held discount days in the run-up to Christmas.
Debenhams said today it will offer 250 million pounds ($419 million) of price cuts before the holiday, surpassing its 200 million pounds of discounts before Christmas last year. Four days of price reductions will begin on Nov. 18, the retailer said.
“Rivals will have to react, often against their will, to avoid losing business in what many believe will be the most fiercely fought Christmas shopping campaign on record,” Debenhams Deputy Chief Executive Michael Sharp said in a statement. The department-store chain will cut prices on ‘tens of thousands” of products, including its Designer clothing range.
Deloitte & Touche LLP, the business consultancy firm, estimates Christmas sales will be “flat” this year, with 45 percent of people spending less on clothing.
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