Mon Jul 13 16:15:00 -0400 2009

WWD (New York)

- Key department and specialty stores held weekend promotions in which spring and summer merchandise was reduced 40 to 80 percent.

“Since the holiday season, we’ve been in a new environment where promotions are steeper than in past but inventory levels are leaner,” said Dana Telsey, chief executive officer and chief research officer of Telsey Advisory Group. “Consumers of all income levels are looking for promotional prices. There’s a new way of shopping and a new way retailers are having to execute. The high-end customer is responding to discounts, too. We’ve seen a change in the temperament of all consumers, and retailers continue to adjust.”

To view the full article, download the PDF here: WWD, July 13, 2009