Retailers offering big discounts to unload winter stock
Retailers are trying to beat the first quarter doldrums by holding deeply discounted winter sales.After the hype of the holidays, the beginning of each new year is typically rough on retail shops. From clothing and accessories to hardware and home goods, as they try to unload their fall and winter inventory ahead of the spring, retailers are holding blowout sales to entice customers through their doors.“There are fabulous sales on right now, they are the usual post-Christmas sales,” said Paula Clarke, chairman of the Bermuda Chamber of Commerce’s retail division and CEO of Gibbons Company. “Some winter receipts were late because of Super Storm Sandy so there was more merchandise available to sell. The other difference this year is that in the retail calendar 2012/13 which runs February to January, this year retailers got an extra week because it is a 53-week year.”So far she says, sales have been good.“Spring merchandise is already hitting the floors and Valentine’s Day is only 14 days away,” she said.On Friday, Gibbons Company started offering 30-70 percent off in their home store department, 50 to 60 percent off selected shoes, handbags and accessories at Nine West, 40 to 75 percent off selected ladies wear and discounts in the children’s, men’s and junior’s departments as well.For those who are interested in high-end designer brands, Front Street retailer Lusso, which carries lines like Prada, Miu Miu, Jimmy Choo and Fendi, is holding a sale that features deep discounts of 50 percent off selected handbags.Outside of Hamilton, clothing shops Seasons and SizeWise are holding store-wide 50 percent off sale on their inventory.Toy shop Daisy & Mac is having a sale of up to 75 percent off. Customers can also receive an extra $10 off by clipping the ad from this newspaper.For customers looking to redecorate their homes, now would be a good time to browse as the furniture shops are also getting into the action. Furniture Basics holding a store-wide sale offering 10-50 percent discount.Tomorrow Arnold’s is offering 15 percent off store-wide (excluding alcohol, cigarettes and phone cards) as part of their discount programme on the first Tuesday of every month.While many stores are closing for stock taking, hardware store Treecon is holding a pre-inventory sale on their stock of windows, doors, shutters and blinds. Some items are being sold at below cost prices.