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Prices slashed to entice holiday shoppers
Published December 26, 2008 at 1:08 p.m.
Updated December 26, 2008 at 1:37 p.m.
Photo by Darin McGregor
Shoppers browse the after Christmas sales at the J.C. Penney at Northfield Station in Denver today.
Retailers are pining their hopes that shoppers like Lesa Tafoya turn out in droves for after Christmas sales.
Tafoya scrupulously avoided buying anything for herself while holiday shopping this year, but she immediately put her Christmas gift money to use on a few small indulgences at J.C. Penney’s early morning sale.
“Because the economy is so bad, there are some really good deals in the stores today,” said the Aurora mother of four.
Some 40 shoppers were lined up in outside the doors of the Northfield Stapleton J.C. Penney at 5:30 a.m. to take advantage of the store’s deals that include 75 percent off all holiday decorations and 70 percent off all gold and diamond jewelry. By mid-morning, the store’s sales were tracking above normal, said store manager Pat Miller.
“It’s been very steady traffic, and significantly better than last year,” she said.
Retailers nationwide are apprehensively waiting to see whether Friday will provide salvation for a dismal Christmas season. According to preliminary data from SpendingPulse — a division of MasterCard Advisors that tracks total sales paid for by credit card, checks and cash — retail sales fell between 5.5 percent and 8 percent during the holiday season compared with last year.
Excluding auto and gas sales, they fell 2 percent to 4 percent, according to SpendingPulse. Sales of women’s clothing dropped nearly 23 percent while men’s clothing sales slipped more than 14 percent. Footwear sales fell 13.5 percent. Sales of electronics and appliances fell even more drastically, dropping almost 27 percent.
More consumers appeared to do their shopping online, particularly in the last two weeks of the season when storms snowed shoppers in. Online sales dipped just 2.3 percent from last year, according to SpendingPulse.
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