Seems retailers are not crying wolf this time. Promising sales is an age old ploy. This time is different, I think it truly is.
New York (CNN Business)Many shoppers have pulled back on buying clothing and other discretionary items as the highest inflation in four decades pinches their pocketbooks.
That’s left Walmart (WMT) and other retailers stuck with too much clothing and bigger-ticket stuff sitting on their shelves. To help clear out the backlog, Walmart is cutting prices on some items and marking down products.