6at4 Business Report: HEADLINE
October 28, 2011 (WPVI) -- Black Friday means more store hours at Target, but don't look for huge toy discounts!
More layoffs in the pipeline, this time from Whirlpool. When it comes to buying big-ticket items like washing machines - looks like people are shying away. Whirlpool is cutting 5,000 jobs because of lackluster demand and the high cost of steel. Also, don't look for any special promotions this year either. Whirlpool says it's not planning on it.
Toy imports dropping
You're probably not going to find deep discounts on toys this holiday season, retailers keeping a tight lid on inventories. The Journal of Commerce says toy imports into the U.S., mainly from China, dropped 9% from a year ago. It's the 8th straight quarterly decline. Retailers would rather keep inventories lean than face deep discounts.
Target and Black Friday
Speaking of holiday shopping... get ready! You know it's just around the corner. Today Target said its stores will open at midnight on Thanksgiving Day for the first time this year. Typically they would open at 4 a.m. According to the Associated Press, Target says stores will stay open until 11 p.m. on Black Friday and the expanded hours are in response to customer demands.
6at4, stock market, economy, target, black friday, toys, business/finance
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