Retailers Discounting, Hoping for Good Weekend Sales

December 18, 2003

Retailers Discounting, Hoping for Good Weekend Sales

Despite predictions of strong holiday sales and steady retail prices, bad weather and consumer habits are causing retailers to slash prices.

Before the holiday selling season began, analysts said tight inventories and boosted consumer confidence would help retailers avoid the discounting that marked the holiday seasons of the past few years, says Reuters. "The idea that is going to be a year without any markdowns in ludicrous," Craig Johnson, president of consultant Customer Growth Partners, tells Reuters.

Snow and ice on the last two consecutive weekends in the Northeast also harmed sales, says the Associated Press, but analysts and retailers are pinning hopes on another weekend event, the capture of Saddam Hussein. "Ultimately, in the long run, this is going to put people in better spirits, and we are definitely excited that this has come during the holiday season," Ellen Tolley of the National Retail Federation told AP.

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