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WHAT'S HAPPENING: Retailers are pushing deeper price cuts for the day after Thanksgiving than they did a year ago, hoping to pull in shoppers who have stayed away from malls and stores since September when the financial meltdown intensified.
WHY: Black Friday, the day after Thanksgiving, may not be the predictor of sales for the holiday season, but it sets the tone. Stores that have a disappointing start typically can't make sales up for the rest of the season, which accounts for up to 40 percent of annual profits for many merchants.
DETAILS: Toys "R" Us stores will offer 50 percent more early morning deals on Black Friday than a year ago, while Kohl's Corp. plans to offer discounts of 40 percent to 50 percent on a wider range of brands, including its most expensive fashion labels like Simply Vera Vera Wang. J.C. Penney will have 20 percent more early morning discounts the day after Thanksgiving than a year ago.
WILL IT WORK?: Worries are escalating that Black Friday sales will be below the level of a year ago as shoppers, facing tightening credit, layoffs and dwindling retirement funds are expected to be choosy about what they buy.
© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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 | Stores may see disappointing Black Friday sales | Associated Press | Thu Nov 20 | 0 |
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