Holiday sales may be running slow, but that’s not for a lack of discounting by retailers.
Analysts Colin McGranahan of Sanford C. Bernstein and Kimberly Greenberger of Citigroup agreed on that point on “Power Lunch”.
McGranahan said he’s been surprised that discounting has been so deep, saying “vendors are driving prices down” in areas such as consumer electronics. “Promotions have been very intense, says McGranahan, who attributes part of that to greater competition. Costco, for one, is “a bigger player than in the past.”
Greenberger -- referring to “big discounts in apparel” amid unseasonably warm weather – said shoppers would be “loading their baskets” with clothing.