CASHING IN ON DAY AFTER CHRISTMAS : MERCHANTS HOPE LOWER PRICES BOOST BOTTOM LINES.Byline: Rachel Beck Rachel Beck is an American reporter for the Lebanon Express in Lebanon, Oregon. Born 5 April, 1982, she was raised in Sisters, Oregon. In 2000, she graduated from Sisters High School[1]. She graduated from Vassar College with the class of 2004. Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. If shoppers didn't spot sale signs before Christmas, they'll find them now. Stores and malls are slashing prices today, hoping to offset a ho-hum holiday season with a burst of post-Christmas buying. From major retailers, like Lord & Taylor and Macy's, to small independent stores, merchants are opening early and offering deep discounts to get shoppers into the buying mood again after a 24-hour respite. ``It's a big day,'' said John Costello John Costello can refer to:
Despite reports of brisk buying in Buying in has several meanings. In the securities market it refers to a process by which the buyer of securities, whose seller fails to deliver the securities contracted for, can 'buy in' the securities from a third party with the defaulting seller to make good. the first weeks of the season, many retailers failed to keep up with that pace through Christmas Eve. Maxxed-out credit cards, foul weather and five fewer shopping days between Thanksgiving and Christmas contributed to the slowdown. ``Was it great? No,'' said Robert Burton Robert Burton may refer to:
The process by which the corporation communicates with its investors. at Kmart Corp. ``We saw a modest improvement this Christmas and retailers in general had to work hard to get the gains they had.'' Now, store owners are betting on a surge of buying to help their bottom lines. For shoppers, that could mean good deals on things they didn't get for Christmas. Some merchants are offering discounts as high as 75 percent. Some of the best prices were expected to be found at electronics and computer stores, which suffered through one of their toughest holiday seasons in recent years due to waning demand. ``Everyone said wait until after Christmas before you get a computer,'' said Sonya Ortiz, who stopped by a CompUSA store in Manhattan on Christmas Eve to check out a few of her options. Apparel, too, will likely go on sale, as clothing stores try to move out merchandise to make room for new goods. These markdowns come despite a successful season for apparel retailers, who thrived thanks to a rebounding interest in clothing. ``Apparel was up stronger than anticipated,'' said Walter Loeb, who runs the retail consulting firm Loeb Associates. ``Everything was selling and anything tied to clothes was selling - ties, accessories, handbags.'' Other big winners this Christmas included jewelry stores and upscale retailers, with many shoppers willing to spend a little more on gifts. Toy retailers had a strong year, benefiting from the frenzy over Tickle Me Elmo Tickle Me Elmo is a childrens' toy from Tyco, introduced in the United States in 1996, becoming that year's top fad. Bright red in color and based on Elmo, a Muppet character from Sesame Street, when squeezed, Elmo would chortle. , Holiday Barbie dolls and Nintendo 64 video games. Home furnishings also sold well, especially smaller pieces like wine racks and end tables. ``It's the Martha Stewart syndrome,'' said Clark Johnson, chief executive of Pier 1 Imports Pier 1 Imports Inc. (NYSE: PIR) is a Fort Worth, Texas-based retailer specializing in imported home furnishings and decor, particularly furniture, table-top items, decorative accessories and seasonal decor. . ``People interested in their homes again.'' |
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