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. [...]

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.

Posted by Orrin Judd at October 3, 2008 7:37 AM
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