Heavy discounting threatens retailer earnings

Heavy discounting in the final days of the holiday season doesn’t bode well for basic and specialty fashion retailers.

In an effort to help drive last minute shoppers into stores, many fashion retailers such as Ann Taylor, Express, Abercrombie & Fitch and Victoria’s Secret opted for 50% off promotions.

Gap Inc. brands such as Old Navy, The Gap and Athleta led the pack in terms of discounting among basic retailers, advertising 60% off deals during the week of Christmas.

Read this story here.

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