Burton to pass on VAT price reductions to all customers
on: December 2, 2008, 5:18 am
Release Author: Burton
Release Summary: Burton announce VAT price reductions will be
passed on to all customers from the 1st December
Release Body: Following The Chancellor of the Exchequer Alistair
Darling's decision to cut Value Added Tax (VAT) from 17.5 per
cent to 15 per cent, Sir Philip Green's Arcadia Group has released
a statement on behalf of a group of the high street's most powerful
retailers, confirming they will pass the full VAT cut onto their
change in the VAT rate will mean huge changes for all the shops
in the Arcadia group, as all shelving and register prices will
need to be updated. However, Burton, Arcadia, Mosaic Fashions,
Bhs, Marks & Spencer, New Look and Next all confirmed in the
statement they planned to pass the 2.5% VAT cut on to customers
on Monday, or soon afterwards.
group of retailers covers some of the biggest names on the high
street, including; Topshop, Topman, Wallis, Dorothy Perkins, Miss
Selfridge, Evans, Burton, Bhs, Oasis, Coast, Karen Millen, Warehouse,
Principles, Shoe Studio Group, Jane Norman, New Look and Next
statement by Sir Philip said: "Following the recent announcement
reducing VAT from 17.5% to 15%, equating to a price reduction
of 2.13%, we are pleased to confirm that it is our intention to
pass the benefit of this reduction onto our customers."
price reduction will be given on standard rated product and will
be applied on, or as soon after Monday December 1 as possible.
statement added that this would, "allow for the complexities
of implementing the changes required."
is unclear how the price cuts will be implemented, however many
retailers are expected to take off the discount at the till point
rather than by re-ticketing stock.
Burton, all mens
suits and mens
accessories will be adjusted at point of purchase as of 1st
Burton has a long history in men's clothing and fashion, having
been founded in 1903 by Montague Burton in Chesterfield. Burton
now has over 400 outlets all over the UK and Ireland making it
one of the country's largest sellers of casual and formal menswear,
shirts, jeans, jackets, knitwear, shorts, shoes, underwear
can also shop online from the Burton.co.uk website which offers
free returns in-store or by post and fast delivery to their home.
Details: For further media information, please contact:
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020 7291 2951