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Retailers slash prices for last-minute Christmas shoppers

Shops are reducing their prices for last-minute shoppers who are expected to flock to the high street today in what is thought to be one of the busiest retail weekends of the year.

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Marks & Spencer 'Mega Day' sale 'likely to hurt brand'

Marks & Spencer will discount its clothing line by 30% in a last-minute "Mega Day" sale this weekend, as other high street retailers drop prices to entice Christmas shoppers and bargain-hunters.

However, a retail analyst said he believes that the move is likely to hurt the brand by irritating loyal customers who paid full price in recent weeks.

The retailer is under particular scrutiny as embattled boss Marc Bolland hopes for an improvement in the store's struggling womenswear division.

Whether it will turn out to be worth doing that in short-term, just to try to save the CEO's job, remains to be seen, but the M&S brand will suffer long-term damage.

– Analyst Nick Bubb

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