Retailers Keep Slashing Prices To Draw Post-Holiday Bump

AP:

The nation's retailers slashed prices further Wednesday in hopes that a post-Christmas shopping rush will salvage holiday sales that, so far, have fallen below even modest expectations. They're waiting in particular for legions of shoppers armed with gift cards to snap up bargains and buy new merchandise that has just hit store shelves.

Merchants in past years have received a late bounce during big clearance markdowns, and they find themselves again in the position of hoping that bargain-hunting consumers will come through in the end. Gift card sales are not recorded until shoppers redeem them.

Investors, however, are more pessimistic about this holiday season and the financial well-being of consumers in a challenging economic environment. Shares of most retailers fell Wednesday.

Read the whole story: AP

Comments

[Stretchumall]

It's sad when people can't afford even the cheap Chinese goods.

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