Retailers including Gap were offering as much as 75 percent off
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Not just the GAP , my wife bought all her gifts at the mall this year ,,, all the big name clothing retailers were in the 75% off range and several of the independent shops were even cheaper .. you don’t blow out inventory at or below cost in the Christmas season (and selling at half the Walmart price in a high rent mall is just that) unless you’re planning on closing shop in the new year... and despite the discounts parking was absolutely no problem ,, never more than half the spots filled.. in other years a fight over available spots would have been the norm.. even in recent (post 2008) years...
Good observations all. You can’t lose a little bit on every deal and make it up in volume. Only the federal government can operate that way and this federal government has doubled down. This is only the beginning of the fall. Terminal velocity will be reached in late 2014. The ground is rushing up to meet us.