High street shops M&S, H&M, John Lewis and New Look to slash prices by 70% to shift stock
28 May 2020, 11:49
Some of our favourite high street shops are expected to slash prices following lockdown measures.
As high street shops across England are preparing to reopen after months shut, some are expected to be offering some great savings when they do.
Online sales have already started for a collection of retailers, including John Lewis, Debenhams, New Look, H&M, M&S and Next.
READ MORE: Boris Johnson reveals pubs and restaurants could now reopen in June
These sales are expected to continue when stores reopen as they attempt to shift unsold stock from the Spring.
Retailers are believed to have around £15billion of unsold stock to shift.
According to The Sun, retail analysts have predicted discounts of up to 70 per cent through July, August and September.
Debenhams and Next are currently offering 50 per cent off some stock, while the likes of New Look are offering 60 per cent off some items.
Last month it was reported Primark was also planning a post-lockdown 'bumper sale' after building up £1.5billion of unsold stock.
Hargreaves Lansdown analyst Sophie Lund-Yates told the Mirror: "When Primark was ordered to shut its doors mountains of inventory was already on its way, ready to replenish stores which are in hibernation.
"For consumers this could mean bumper sales when shops reopen, as sales stickers are one of the quickest ways to shift excess items."
While this has not been confirmed by Primark, regular shoppers are already getting excited about the potential for a huge sale.
