Storms Threaten to Wipe Out Retailers' Last Hopes

Double whammy for desperate stores struggling to sell in last holiday week
By Mary Papenfuss,  Newser Staff
Posted Dec 21, 2008 5:26 AM CST
Storms Threaten to Wipe Out Retailers' Last Hopes
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)

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.
(Read more retail sales stories.)

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