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1.Market Observations

21 Nov 2013 (AFR, Bloomberg) – ‘Tis the US season to be gloomy

(21 Nov 2013, AFR, p14, Cotten Timberlake and Bloomberg)

Wal-Mart Touts $98 TV in Weakest Holiday Season Since ’09

‘U.S. retailers are discounting earlier than ever as they brace for the weakest holiday shopping season since 2009.’

‘Wal-Mart Stores Inc. is dangling a 32-inch flat-screen TV for $98, down from $148 last year. Sears Holdings Corp. has waived layaway fees and its Kmart chain is introducing a rent-to-own program. More than a dozen retailers are opening earlier, or for the first time, on Thanksgiving Day. Among the attention-grabbing stunts: a $1 million jackpot for one of the first shoppers to visit Gap Inc.’s Old Navy chain on Black Friday.’

Read more at Bloomberg.com

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