Retailers, desperate for sales, are slashing prices

Raleigh News & ObserverDecember 17, 2008 

Retailers are desperate to unload goods, and prices are plunging. Many merchants are cutting prices 20 percent to 50 percent. At some stores, discounts are already as high as 70 percent.

After Christmas the cuts should be even deeper, particularly for apparel, toys, linens and small kitchen appliances. Retailers want shoppers, armed with gift cards and holiday cash, to give them one last boost before the slow months.

One thing that isn't expected to be a terrific bargain for the rest of the year is big-screen TVs. It's already getting too late to ship a television in time for Christmas, and the Super Bowl on Feb. 1 usually brings out a wave of television buyers.

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