Storms Threaten to Wipe Out Retailers' Last Hopes

Double whammy for desperate stores struggling to sell in last holiday week
By Mary Papenfuss,  Newser User
Posted Dec 21, 2008 5:26 AM CST
Store banners offer discounts in Beverly Hills, Calif., Retailers are slashing prices further and pulling merchandise off shelves to send to liquidators as holiday shopping days dwindles.    (AP Photo)
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(Newser) – Retailers were extending hours and cutting prices deeper in a last-ditch attempt to attract a final wave of holiday shoppers and mitigate the impact of major storms in the Midwest, Northwest and Northeast, Reuters reports. Some two-thirds of shoppers still have holiday shopping left to do, according to surveys, but the storms may further cut their already-meagre lists. The bad weather is hitting at the worst possible time as stores struggle with flagging sales amid a major economic downturn.