Companies Cutting Prices Like Never Before

ABC News:

Trey Shores, 36, recently scored a fantastic deal. The Tokyo-based consultant scooped up an in-season Helmut Lang leather jacket in the city's Ginza district for 50% off the regular price. What was an out-of-reach $2,000 became a more reasonable $1,000 "just like that," says Shores. "I'm quite proud of [it]."

Read the whole story: ABC News

Comments

[KillTheMessenger]

I just bought a $400 coat for $100 at Ross. But that's not a big deal. They will give you this 400% markup stuff every day for a reasonable price.

OTOH, I just bought a loaf of bread for $4.50. Deflation? Not a chance.

[truthyguy]

When prices tumble and unemployment is over 15% - it is a depression, not a recession.
(And unemployment is over 15% if you add the unemployed, underemployed and those unemployed who have stopped looking for work.)

[lakeqi]

There aint no discounts out there worth mentioning. No piece of clothing should be more than 30 bucks at the most. These are the worst end of season discounts I've ever seen. They write these stories because advertisers make them.

[BPCentrisAmerican]

I'll take my Enzo in silver.

[BPCentrisAmerican]

My wife and I are trying to find a deal on a bathroom vanity for the bath, I am currently remodeling and I haven't seen many deals anywhere, we have one picked out, which looks good and the right size for our smallish master bedroom and I haven't seen any red hot smoking deals on this piece from a well known manufacture. I know what the suggested retail is and I every store with the exception of Home Depot is over pricing it to offer discounts on it.

One thing is true, with consumers pulling back on everything from a dinner out, to durable goods the theory of Supply Side economics is going out the window, catering to every thing corporations want from off shoring to taxes, is fine, but when it's paid for on the backs of the middle class, than the economy drowns. I'm not for as Republican call soaking the rich, but stepping on the heads of the middle class is not an option either, and this has been happening since Reagan, with a modest reversal under Clinton.

[yakmeat]

Wow- an $8,000 handbag is now half-price. And Lamborghini is subsidizing loans for their buyers.

Does someone who can afford to spend $8K on their purse and $1.4 million on their car really ever need a discount on anything?

* be right back- leaving computer to vomit -

Well, I guess at least those who can already afford everything on earth will be able to afford that much more, thanks to these steep discounts. Maybe such fantastic savings will make them feel like they have finally amassed sufficient wealth to allow some of it to "trickle down" to the rest of us.

[spinns17]

sorry my boss is taking my health insurance and hours away .got no money to help china ,and walmart.

[MANK]

I will see an item in the Dollar Store then I will see it in a catalog for 3X the $1.00. Plus it makes a few extra quarters on the shipping.The Dollar Store is still making a profit on the item made in China.

[MANK]

OK,I don't know much about the stock market and the Dow. What I do know is that if it does not go up every week, the sky is falling. How is it that I don't remember such obsessing watching the Dow every minute of every day? How can companies keep making more money than the quarter before? How much stuff can we buy?

[wonketteRAWKS]

You can lower those prices all you want, if people have no money to spend and their credit cards are maxed out, what good is it!

[rubinoff]

even wal-mart has jacked up their prices :(

[proggirl]

Good. Maybe people will wise up and stop shopping at Wal-mart. That place is evil, I tells ya!

[spinns17]

happy to see these companies hurting .payback to wall street

[editorjuno]

Deep discounts on overpriced stuff nobody needs -- whoop-dee-doo!

[rubinoff]

yup...and with these so-called 'discounts,'...who still can afford those prices, only the rich.

[lakeqi]

"Deep discounts on overpriced stuff nobody needs -- whoop-dee-doo!"

I been sayin that form the start. I wrote to a company about a wool Icebreaker baselayer and asked for 8 bucks off. They wrote back and said "no, its already on sale for 20 % off"!!!! And its been 20% off for at least four months and none of the sizes or styles are sold out yet. All of these companies can rot for all I care.

[ChristopherAtom]

"Of all the foul growths current in the world,
The worst is money. Money drives men
from home,
Plunders proud cities and perverts honest
minds to shameful practice, godlessness and crime.

Sophocles
496?-409 B.C.

[YellowDogInRedCounty]

So an $8000 handbag (!!!!!!!) is now 40% off...let me know when they lower prices on gasoline, toilet paper and eggs.

[BillMelater]

Of course luxury item prices are falling, nobody has that kind of cash to buy them. Food, insurance, and health care have only gone up, however. Some real deflation wouldn't hurt people in the least. But we aren't seeing that - yet. Perhaps soon, but I won't hold my breath.