As retailers reopen, brands run major sales to get rid of inventory - Business Insider

, many are still struggling with piles of excess inventory — prompting continued deep discounts both online and in-stores. at brands like Gap, Victoria's Secret, Madewell, and American Eagle early in the coronavirus outbreak in April, several others have followed suit, both on their e-commerce sites and at reopened physical stores. However, while these deals may look appealing to consumers, retail experts warn of the lasting reputational and long-term damage of deep discounting.

Still, that hasn't stopped brands like Loft, for example, which recently launched a 70% off sale online, selling items like jumpsuits for as low as $10 at final sale. Others, like Tom's Shoes, implemented a 65% flash sale, with a section on its website dedicated to footwear under $25, significantly lower than its average prices.

"All of this is pretty much going into the past season already," Hwang said of the Saks Fifth Avenue assortment on Wednesday. "I'm curious to see what the store's going to look like in September. I'm sure they'll find ways to fill the store but they're not going to have as much product because a lot of designers were canceling."Bethany Biron/Business Insider

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The Drive Thru: New bankruptcies, protests at Adidas, and the slow reopening of NYC - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
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As states reopen, smartphone data shows some reluctance to go out - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I don’t see that changing until businesses do the right thing by following CDC guidance including enforcing masks and distancing. Trump’s anti-mask campaign will us back months and cause massive economic impact.
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