M&S had to cut prices to compete in Dec., CEO says

01/9/2014 | Guardian (London), The

Marks & Spencer did well with full-price sales in November but had to resort to heavy promotions in December to compete with rivals that were cutting prices to drive pre-holiday sales, says CEO Marc Bolland. "Full-price sales were up in November and December and particularly in November," he said. "We tried to hold it but the market went extremely promotional."

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Guardian (London), The

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