If you've put off your holiday shopping until the last minute, there's good news for you (though it's bad news for retailers) --many clothing and home furnishing retailers are marking down their entire stores up to 50 percent.
Online retailers are blasting customers with e-mails advertising discounts as high as 70 percent. New York Times retail reporter Stephanie Clifford says inventories are too high. A record-breaking Thanksgiving weekend didn't prove to be a sign of things to come, as sales slumped in the following two weeks. Now retailers are wondering what all the price slashing will mean for their bottom lines.
- Stephanie Clifford, retail reporter for The New York Times
This segment aired on December 23, 2011.