Even in a sea of retail promotions, the discounting binge stands out. The U.S. department-store chain embarked on its most aggressive holiday sales ever this month, marking down its entire inventory by 10 per cent to 50 per cent. Same-store sales fell 17 per cent at Sears last quarter and 13 per cent at Kmart. “Sears’ long-term success remains in doubt.”Kelly Cook, the chief marketing officer of Sears and Kmart, says the November promotions have been effective in getting more return customers. Wal-Mart, Target, Macy’s and Best Buy are ramping up their own holiday promotions — though none is offering storewide sales.

Source: thestar November 19, 2017 04:52 UTC