Archive for the ‘Macy’ Category

Economy Watch: Retailers push post-Christmas discounts

December 26, 2007
By ANNE D’INNOCENZIO, AP Business Writer 

NEW YORK – With the 2007 run-up to Christmas boosted by a last-minute sales surge, retailers are putting an extra emphasis on after-Christmas discounts, hoping bargain shoppers and gift-card splurgers can enrich stores’ holidays.

Toys “R” Us Inc., which will open at 8 a.m. on Wednesday, two hours earlier than last year, will offer such deals as 40 percent price cuts on all MP3 and iPod accessories. Macy’s Inc. is offering 50-75 percent off cashmere sweaters, while Saks Fifth Ave. has cut prices on fur coats by 40 percent to 60 percent.

Online stores were also slashing prices further to get rid of holiday leftovers. Potterybarn.com is having a post-Christmas sale that will offer 60 percent discounts on holiday decor and 50 percent price cuts on rugs.

The post-Christmas season has become more important with the increasing popularity of gift cards. Gift card sales are only recorded on retailers’ balance sheet when cards are redeemed.

According to the National Retail Federation, consumers….

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http://news.yahoo.com/s/ap/20071226/ap_on_bi_ge/post_christmas_shopping;_
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Related:
Target Says Holiday Sales Down

Shoppers ‘too little, too late’ to save season

U.S. Economy: Storm Warning

Wall Street is betting on a recession

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