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...midtown Manhattan on Friday as dozens of clothing retailers touted their "door buster" sales of 50% or more off everything from diamond jewelry to cotton hoodies. Crowds even broke one of the doors at Macy's Men's Store. That paled in comparison to the death of a Wal-Mart worker in Long Island who reportedly got trampled to death by bargain hunters. But by mid-morning on 34th Street, many stores were half empty and some sales staff said they had noticed that shoppers were holding back this year. (Looking for the perfect Black Friday purchase? See TIME...
Corporations that want to support sustainability should encourage their employees to make changes on a personal level, environmentalist and consultant Adam Werbach said in a discussion at Harvard Business School yesterday. In his lecture to a few dozen students, Werbach said he came to this revelation after Wal-Mart contacted him to discuss its environmental impact. “When I first heard [from them] I literally thought it was a prank call,” he said. But at a meeting, a Wal-Mart representative said the company was committed to eliminating waste in its operations. For several years...
...expect a little bit of everything. Sears has quadrupled the number of items in its sales flyer to 677 this year, from 165 last year. Power discounter Wal-Mart launched Operation Main Street, presenting a new round of markdowns every week until Christmas. Mattel will give a $50 Visa card to those who spend $100 on select Barbie toys. Sears and Radio Shack are urging eco-conscious consumers to dump their power-sucking old equipment, offering gift certificates for the trade-in value. Likewise, Staples offers $30 toward the purchase of a new camera or laptop for buyers who recycle...
...their annual revenue from holiday shopping. Still, there are some bright spots. The Internet should outdo the sidewalk: online retail sales this holiday season are expected to grow 12% over last year, to $44 billion, predicts Forrester Research. And discount chains like TJ Maxx, Wal-Mart, Costco and BJ's Wholesale Club should see strong sales as they hammer away at prices. BJ's third-quarter merchandise comparable sales were up 7% vs. 2007's. "Our position is serving us well in this economic environment," says Laura Sen, BJ's president...
...complacent - a fatal mistake in the fiercely competitive and fast-evolving retail-electronics industry. The problems began a decade ago, when Circuit City failed to secure prime real estate - its out-of-the-way locations were often just inconvenient enough to tempt customers to head to other retailers, like Wal-Mart. Then Circuit City stopped selling appliances. It didn't move as aggressively into gaming as it should have. And it missed out on big in-store promotions with thriving companies like Apple Computer. That created an opening for Best Buy, now the top electronics chain...