Retailers slash prices, again, in bid to win shoppers

Retailers this week began marking down their holiday and winter merchandise and added additional promotions to previously already discounted products, with bargains to be had at up to more than 80% off. Other retailers launched special daily sales to lure traffic to their stores or websites while malls across the country plan extended hours this weekend. As retailers head to their last weekend before Christmas, the stakes have become even higher after a lackluster holiday shopping season so far. Consumers, stalled by worries about the U.S. economy in recession, rising job losses, declining retirement portfolio values and volatile stock markets, have reduced trips to stores and cut back on non-essential spending.