Shoes

[MSA2004]

I know that often, we share news with the fellow posters about sales that we are aware of. I found this article today at SmartMoney dot com:

For more thana decade now, shoppers have gotten used to waiting for a sale to buy clothing at department stores. Thanks to a recession, hypercompetition among retailers and another recession, a sale was never that far away. Even Saks Fifth Avenue, whose primary customers aren't necessarily coupon clippers, was Wal-Martesque in its discounting; just over three years ago, Saks was slashing prices on everything from Armani to Zegna by as much as 70 percent.

Company boss Steve Sadove wants to put a stop to that. During the last December holidays, the sales tags were reserved almost exclusively for the season's dregs. Over the past year, Sadove has pared down the discounts at Saks's big semiannual friends-and-family sales. Remaining sales are shorter and offer smaller price cuts. Saks has nixed discounts on cosmetics and some designers altogether. "We have to reinforce that we're not a promotional department store," he says.