Word: seasonings
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...hard-cover releases to less than $10 apiece for shoppers who preordered books on their websites. Similar price battles have been launched in toys and electronics, with Walmart's chief merchandising officer, John Fleming, proclaiming, "We're going to be the price leader for this holiday season." Best Buy's executive vice president of customer operating groups, Mike Vitelli, says his company will match competitors "dollar for dollar." (See 10 big recession surprises...
...retailers are digging in their heels, insisting they won't slash prices to 2008 levels. Last year, retailers had loaded up on goods for the holiday season but were then hit with the collapse of Lehman Brothers, upheaval in the credit markets and the AIG crisis, which sent tremors of fear far and wide. Consumer spending dried up, and shoppers abruptly disappeared. Retailers found themselves sitting on huge inventories of unsold goods, and many frantically started chopping prices to clear shelves...
...retailers have planned for this season's frugality, ordering up to 20% less inventory, making them less susceptible to mid-December price-slashing. "You clearly aren't going to see the kind of discounting that you saw last year," says Stephen Sadove, chairman and chief executive of Saks Inc. Wayne Hood, an analyst at BMO Capital Markets, agrees. "We're expecting 50% [markdowns] to be kind of the norm this year vs. maybe 75% last year," he says. (See 10 things to buy during the recession...
Sophomore Andrew Van Nest’s three-point attempt at the end of the game failed, depriving Harvard of the opportunity for overtime heroics reminiscent of the matchup against William and Mary earlier this season...
...brings both the Crimson and Army to 3-1 records. The Black Knights have not had a winning season since 1985, but they downed Princeton on Saturday, defeating it 56-52. The Crimson lost both times it played the Tigers last year...