Amazon Has 'Best Ever' Holiday Season

Stores launch summer promotions to snag holiday dollars early

(NEWSER) - It's beginning to look a lot like Christmas in malls across the country as stores angle for some extremely early holiday dollars, the Wall Street Journal reports. Retailers like Toys'R'US, Sears and Kmart have dragged Santa away from his summer break and launched July Christmas promotions, hoping to boost sales with a touch of festive spirit and help recession-hit consumers spread out their holiday spending. More»

Get ready for 40% price cuts across the board amid weak demand

(NEWSER) - Planning to score a new TV on Black Friday? Apparently this is the year to do so, as deals are exploding in what one analyst calls a “dogfight” between top US retailers. Last year, some retailers only slashed prices on high-end TVs. This year, expect to see discounts across the board—including cuts of up to 40% from one year ago on big-screens—plus other incentives, like free shipping, as companies do whatever they can to lure customers. The TV market is not doing well as recession shoppers avoid purchasing nonessential items, Reuters notes. More»

Pessimistic retailers plan to slash seasonal jobs

(NEWSER) - Retail jobs are expected to be in short supply even as the holiday shopping season approaches, the Wall Street Journal reports. Some 40% of retail chains surveyed say they plan to hire fewer workers this year than they did last year when the recession forced many to cut staffing levels. A third of retailers expect a year-to-year drop in sales, and another third predict sales will remain flat. More»

(NEWSER) - Sears is taking the “Christmas in July” trope to a whole new level. With June retail sales tumbling, the company is looking for a boost by selling actual Christmas products, Time reports. Soon, 372 Sears stores will roll out displays hawking tree ornaments, stocking stuffers, and other decidedly off-season wares. Online, Kmart and Sears invites customers to “Shop Christmas Lane.” More»

Even luxury sector sales in free fall

(NEWSER) - It was a bleak Christmas and promises to be a less than prosperous New Year for retailers with consumers tightening their belts and spending less, reports the Wall Street Journal. Retail sales dropped 5.5% in November and 8% in December, compared with the same months last year. Luxury goods, usually recession proof, were hardest hit, with sales plunging 34.5%. More»