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Published on Thursday, October 02, 2008
By LA Daily News Staff Writer
Alarmed by the financial meltdown, stores nationwide are slapping sale signs on everything from fall sweaters to furniture - frantically trying to attract shoppers who are cutting back.
Some analysts were already expecting the weakest sales growth for the holiday season in 24 years, and with uncertainty roiling the banking system and a teetering economy, they figure Americans will make their lists and check them three or four times.
"I haven't seen this kind of fright since 9-11," said Faith Hope Consolo, chairwoman of real estate firm Prudential Douglas Elliman's retail leasing sales division. She said stores are "all arming themselves for what is probably the most difficult season across the board."
At malls, shopping districts and on the Web, the discounts are growing desperate. "Up to 60 percent off," say signs at AnnTaylor LOFT stores, "50 percent off" at Old Navy. Restoration Hardware Inc. e-mailed $100 gift vouchers out to customers Thursday for purchases of $400 or more
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