M&S is one of many UK retailers which has asked suppliers to delay deliveries to its warehouses.

The retail giant has also postponed confirming orders for next year.

The business has resorted to offering 20 percent discounts on coats, jackets, and boots in an effort to get rid of excess inventory since winter goods have been moving slowly due to milder weather and consumers making budget cuts.

An M&S spokesman told The Sunday Times the company was “re-adjusting stock flow.”

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A build-up of goods in warehouses has also been brought on by a reduction in supply chain interruption.

Retailers trying to get rid of last year’s delayed product are receiving fresh stock earlier than anticipated because shipping times from east Asia have decreased.

For instance, Asos had £1.08 billion in unsold inventory, a third more than the previous year.

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Although Next told The Sunday Times that its inventory was at targeted levels, “a very modest” amount of product was returned to its third-party businesses.

Tesco wrote to its clothing suppliers to remind them of its stock-holding policy, and now they are ready for delays.

Retailers in the fashion industry will be hoping Black Friday and the current cold snap have helped move some inventory.

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This year’s Black Friday sales exceeded those of last year.

In comparison to last year, the number of transactions increased by 3.2 percent as of 5 p.m., according to Barclaycard Payments, and 10 percent overall, according to Nationwide.

Source: Retail Gazette

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