From the AP Wire
Many retailers say they’re ready to tweak orders where they still can or sharpen discounts to adjust to erratic spending. It’s tricky because many holiday orders are usually made six months to a year in advance.
A lot is riding on holiday sales because they account for up to 40 percent of annual revenue for many retailers. For toy merchants, it’s up to 50 percent.
J.C. Penney Co.’s Chairman and CEO Mike Ullman told investors last month that the department store chain was prepared to discount this Christmas season to bring shoppers in, after holding back a little last year.
"I think this year we have chosen to take a bit more pricing liberty," Ullman said.