M&S looks to shift stock with 40 per cent staff discount

Marks & Spencer’s (M&S) 67,000 staff will get 40 per cent off Christmas goods this week as the struggling UK retailer looks to shift stock and boost sales.

The three-day staff sale comes on top of today’s 20 per cent off one-day sale for all M&S customers.

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The company said that extending the sale days for staff was not unusual, adding that it had done this in the past on other one-off promotional days for cardholders.

The spontaneous sales are part of chief executive Stuart Rose’s attempt to clear stock, having admitted last month that levels were too high. Markdowns cost the retailer £25m during the first half of the year.