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Bargain prices cut profits for retailers this Christmas
Retailers posted mostly solid holiday sales gains but profits were squeezed by discounting. Analysts note a 5 percent rise in holiday sales, short of 1988's 7 percent, with post Christmas price cuts expected to continue. Dayton Hudson reported solid sales with modest promotions, while Campeau stores faced debt pressure. Clothing retailers fared better than general merchants.
MENTIONED IN THIS ARTICLE
Marybeth Nibley
Kurt Barnard
Retail Marketing Report
Linda R. Morris
PNC Financial Corp
Philadelphia
Barnard
Dayton Hudson Corp
Target Discount
Dayton Hudson
Mervyn’s
Rich’s
General Merchants