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Nov 20, 2008
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Kohl's to offer wider price cuts for holidays- WSJ

By
Reuters
Published
Nov 20, 2008

Nov 20 (Reuters) - Kohl's Corp is to widen its range of discounts after Thanksgiving Day, introduce daily promotions and substantially increase its marketing spend to attract bargain-hunters, the Wall Street Journal said.

The mid-priced retailer of clothing and homeware goods said it will offer 40 percent to 50 percent discounts on its most expensive, fashion-forward exclusive labels, such as Simply Vera Vera Wang and Elle, and its entire stock of women's apparel, on Black Friday, the day after Thanksgiving.

"The winners in retail are going to be the ones who recognize the economic environment and offer better prices in order to get market share," Kohl's Chief Executive Kevin Mansell told the paper.

"There's not a lot to go around this season."

U.S. retail chains traditionally launch their big holiday promotions immediately after Thanksgiving Day in late November, but many have started to offer discounts even earlier as the economy weakens. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Mike Nesbit)

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