October 3, 2008
NOTHING COSTS MORE THAN IT USED TO:
Nervous retailers face weak landscape with markdowns: With consumers low on cash, discounting is rife. Retailers expect a slow shopping season. (Anne D'Innocenzio, October 3, 2008, The Associated Press)
Alarmed by the financial meltdown, stores nationwide are slapping sale signs on fall sweaters, furniture and many other products -- frantically trying to attract shoppers who are cutting back. [...]Posted by Orrin Judd at October 3, 2008 7:37 AM
At malls, shopping districts and on the Web, the discounts are growing desperate. "Up to 60% off," say signs at AnnTaylor Loft stores, "50% off" at Old Navy. Restoration Hardware Inc. e-mailed $100 gift vouchers to customers Thursday for purchases of $400 or more.
Holiday items are starting to flow into stores, and they're expected to be marked down immediately, said Marshal Cohen, chief industry analyst for NPD Group Inc.