Word: slashings
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...retailers have managed to avoid the panic discounting that plagued last year's Christmas season, mainly because many ordered up to 20% less inventory in anticipation of fewer customers. But with sales even more sluggish than projected and consumers keeping their pocketbooks closed longer, experts believe shop owners will slash prices sharply in the final two days. See the best business deals...
...announces plans to slash 21,000 jobs, close dealerships and drop the Pontiac brand. Saturn, Saab and Hummer go on the block...
Third, assuming that the past will be prologue, these cuts won’t be applied equally. This raises the question of who will have the loudest voice in advising top administration officials on where to slash. If our recent history is a guide, ex–Wall Street cowboys will have the ear of top administrators, while Harvard’s many stakeholders—the students, faculty, and other staff—will pay the price...
...find deals this year, but there are fewer big deals to find - the 75% to 80% markdowns seen during last year's holiday season are now rare. Retailers purchased up to 20% less inventory this year in anticipation of slower sales, so they're not under the gun to slash prices to clear inventory - at least...
...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...