JC Penny had people in all depts but only buying the 50% off the former sale price stuff. Mens shoes were dropped a bit more too.
I made purchase the an Oldsmobile car today. With the enticement of a ridiculous 45% off MSRP ($12.4 off $23K MSRP plus $1.2 in sales tax, I had to move on this promotions that expires on 1/2/02. Since sales tax is still due on value of car before rebates, tax ran 10% of take home cost of vehicle.
On way back home I did some shopping at Gareden State Plaze, largest mother of all shopping centers in NJ. I saw a lot of New York State residents coming there for tax free shopping on clothes.
Norstrom's was very busy and I bought a pair of rockports shoes almost 50% off and salesman said last 4 weeks was quiet but store wide sale was moving out a lot of stuff. I saw lots of credit purchases but not much cash.
Next was Macys and that place is a mess. Federated is going to miss numbers big time. People was just passing by piles and piles of their house brands stuff at now marked down 30-40% off. You get the feeling that they are going to really have to mark down to WMT pricing for the stuff you could get at WMT anyway before it moves off the shelves.
JC Penny seemed to have best combination of store traffic, prices and evidence that they actually sold stuff before Christmas. I passed on their shoes since they seem to be lower cost lines from major shoe suppliers.
I need to check out next time I go shopping the upscale line of Sketchers dress shoes. Most stores had the $50 stuff I couldn't see myself putting on. Zeev loves the stock and I saw a nice lineup of their quality patent leather dress shoes at Bostonian shoe store for $138. I not the kind of guy that commits to the purchase of shoes at those prices without taking a second look elsewhere but I been grimmacing at the looks of most shoes I saw under $100.
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