Hoping to boost sales by year end, retailers are extending many discounts and promotions. Expect to see additional discounts on toys, clothing and computers. Bloomberg reports:
Best Buy Co. trimmed the price of a Lenovo netbook computer by a third to $197 online today and in stores tomorrow. Toys R Us Inc. shoppers who buy video games including Sony Corp.'s PlayStation 3 can buy a second game for half price.
Wal-Mart Stores Inc., which started cutting holiday toy prices Sept. 30, is trying to keep consumers coming back by offering a $50 gift card on purchases of Microsoft Corp.'s Xbox 360 players through Jan. 1. Promotions intensified after last weekend’s East Coast snowstorm hurt sales going into Christmas.
"It's certainly more aggressive than in past years," Toys R Us Chief Executive Officer Jerry Storch said by telephone Dec. 23 from Wayne, New Jersey, where the largest U.S. toy chain is based. The company is closely held.
*****
Saks Inc., the New York-based luxury retailer, said it was offering up to 70 percent off from 8 a.m. to noon tomorrow, after which the discounts will revert to 40 percent.
New York-based Brooks Brothers, the privately held apparel chain, said it would start offering 50 percent off tomorrow. J.C. Penney Co. said it would open stores at 5 a.m., its earliest opening ever for the day after Christmas, and have more than 100 so-called doorbusters.
If you're planning on heading to the mall tomorrow, be sure to check your local newspaper tonight for early bird specials.
