Debenhams kicks off price war with £250 million sale

Published on Monday 16 November 2009 19:52

DEPARTMENT store chain Debenhams yesterday threw down the gauntlet to its retail rivals as it announced a £250 million four-day sale and predicted a high street Christmas price war.

The group said it would slash the prices of tens of thousands of items in a move it claimed would blow the starting whistle on a festive discount battle.

Debenhams joins the big four supermarkets in what also looks set to be a heated Christmas for grocery discounts, with Asda last week forecasting it would be "the most aggressive on price in a decade" as the big players announced a swathe of price cuts. Debenhams said its sale – starting tomorrow – would spark similar moves from its high street counterparts, with the planned new-year VAT hike back up to 17.5 per cent also putting pressure on the sector to cut now instead of in January.

Last year's Debenhams sale was followed swiftly by Marks & Spencer with a one-day 20 per cent off sale.

But it is unclear whether others will enter the fray before Christmas after M&S chief executive Sir Stuart Rose reportedly said he was determined not to repeat last year's one-day sales.