Topic: J.C. Penney’s

Black Friday: Retailers cast wary eye on first shopping day of the holiday season

November 25, 2008 |

Layoffs. Lost jobs. Shrinking 401ks and investment portfolios. The mortgage implosion. A summer of skyrocketing gas prices and concerns over utility costs as cold winter weather settles over most of the nation. Escalating food prices. A general and broad-based unease about the economy.

All of the above are contributing to a cautionary view of Black Friday, that riotous frenzied day-after-Thanksgiving start of the Christmas shopping season. Stores across the country began offering severe discounts in late October and through most of November; they will now offer even larger price cuts in hopes of salvaging what is shaping up as a bleak Christmas in retail.

Though the usual lines of early bird buyers are expected to camp outside stores where deep discounts and special items will be offered, these shoppers will be choosier and less willing grab, charge it and run. Caution and conservatism are the “buy” words for holiday 2008. «Read the rest of this article»

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