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Next to slash prices this weekend

Highstreet chain Next is to launch a flash Sale this weekend.

The womenswear and menswear retailer will offer at least 50% off selected clothing and homeware items tomorrow and Sunday.

It is understood marked down items will include a men’s suit jacket usually priced at £110, a women’s heart-studded tunic with a full price of £28 and children’s wellies with a full price of £9.

The move has surprised rival retailers as Next traditionally operates a strictly limited number of Sale periods each year.

It has also sparked fears it will have a negative impact on trading on the rest of the high street this weekend, and that it will “re-educate” the public not to expect to pay full price for items.

Last week Next chief executive Lord Simon Wolfson issued a cautiously optimistic outlook on trading prospects, forecasting that there would be no double dip recession or “meltdown in consumer spending” at the retailer’s half-year results.

Next reported a 15% hike in profits to £213m for the half year to July.

The retailer was unavailable for comment at the time of publication.

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