Retailers Offer Big Discounts, and Then Pray (New York Times)
Retailers have been offering doorbuster sales before Thanksgiving in order to lure customers in store despite the economic downturn.
Tiffany Profit Drops, Cuts Forecast as Sales Fall (Bloomberg)
Tiffany & Co. “said profit fell and cut its forecast as sales dropped for the first time in almost seven years amid the global financial crisis.”
Cavalli Cleared of Tax Evasion (WWD)
Roberto Cavalli has been cleared of tax evasion by the Italian Supreme Court of Cassation.
Where To Find Small-Store Holiday Sales (Forbes)
”Independent retailers are cutting prices and adding personal touches in order to stay afloat.”
Doorbuster deal at Toys R Us, photo courtesy of the New York Times.