This is just sad.
Counter Culture: This Saturday, on Halloween, Sears (SHLD) is launching a campaign called “Black Friday Now,” with “doorbuster” deals on Christmas trees, work boots, diamond-stud earrings and other select items. The deals will take place every Saturday until Christmas.
The retailer is saying that the move is a response to customers wanting deep-discount deals before the traditional Black Friday, which falls on the day after Thanksgiving. But we’re thinking it’s more of a move to combat Sears’ dismal sales results.
Suffice to say, this year, the war for holiday shoppers is going completely nuclear. Wal-Mart (WMT) is going to cut prices like crazy. Toys 'r' Us is opening hundreds and hundreds of extra "pop up" stores, so that you won't be able to turn around without seeing one.
Awesome news for consumers. Devastating for profits and margins.
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See Also:
- Wal-Mart Will Go Ballistic With Price Cutting This Christmas (WMT)
- Costco's September Retail Sales Were Awesome (COST)
- Consumer Spending Plummets As Crack Hit From Cash For Clunkers Runs Out
Full story at http://feedproxy.google.com/~r/businessinsider/~3/3hXuqsvXe2Y/desperate-sears-started-black-friday-today-2009-10
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