Retailers' stockpiles mean deep holiday discounts starting now
Dell has too many computers. Nike is swimming in summer clothes. And Gap is flooded with basics like T-shirts and shorts.
After struggling with product shortages for much of the pandemic, the country's retailers are now facing the opposite problem: an unprecedented glut of unsold merchandise that's cutting into profits, derailing holiday plans and threatening to drag down broader U.S. economic growth.
In response, many of the country's largest retailers are kicking off holiday sales earlier than ever, in hopes of clearing their warehouses enough to accommodate a new round of winter orders, according to company filings and earnings calls.
Target began its winter selling frenzy last week with $6 hoodies and half-off TVs. Amazon is hosting an unusual second Prime Day sale next week, less than three months after its last one. And dozens of other brands, including J. Crew and Nine West, are offering steep blanket discounts online and in stores.
https://finance.yahoo.com/news/retailers-stockpiles-mean-deep-holiday-000250331.html
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