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M&S deserves praise for just saying no to discounting

A retailer that holds its nerve on full-price sales protects margins and gives consumers confidence in the prices that they pay

M&S has been making a valiant attempt to step away from the discounting mania that has enthralled chains in the UK and the US.


THE crucial Christmas trading season is shaping up to have been a brutal one for Britain's non-food retailers. Next's sales gain was welcome, but hardly outstanding. Debenhams, the department store chain, and Mothercare, the parent and baby goods retailer, have both warned on...

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