Monday, December 16, 2019

US retailers hit by ‘worst year since 2008’ for discounting

Boston Business Journal
US department stores and clothing retailers, trying to weather the continued onslaught of online shopping, are resorting to some of the biggest discounts since the 2008 crisis to woo consumers, heightening concerns of a squeeze in profit margins.

With less than two weeks before Christmas, industry data show special offers have lasted long beyond the traditional Black Friday promotional period and are also steeper than in previous years.. . . more