14:04 26 July 2012
Shoppers looking to stretch their budgets during the recession are turning to charity stores. Oxfam, a popular charity store in the UK, records an all-time sales peak of about £90million. The figure combines sales for the whole year from all of the 700 Oxfam stores across Britain as well as from its website. Compared to last year, the sales soared by £4million. According to Oxfam, around £2.5million will be donated to charity.
The spike in Oxfam’s sales is in direct contrast with the performance of the shops over on high street. Marks & Spencer, one of the top shops on high street, recently revealed its sales figures, which proved to be the store’s worst since the start of the recession back in 2008. Angry shareholders and workers rounded on M&S boss Marc Bolland, demanding an explanation.
Despite calling in celebrities such as Twiggy and Gary Barlow for advertising help, the clothing store’s sales slumped by 6.8 per cent in just 13 weeks. Bolland, who takes home a pay of £1.68million has been accused by critics as not worthy of it, compared to the £105,943 net income package received by Barbara Stocking, chief executive at Oxfam.
Oxfam is one of the most popular charity stores known for their extremely cheap clothes, books, and second-hand designer items.
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