markdown

And the company makes money even with the markdowns, he said.

This fall it was a different story, with almost no markdowns.

But deep markdowns on new books are a red flag.

"You either have to take the stuff back, or give them markdown money to keep it in their stores," he said.

Then I tell them they're in a store, which is offering a 30 percent markdown on some stuff they want to buy.

"As a result, it will face a lot less markdown pressure.

"I think you'll see an unusually low level of markdowns."

Through July 20, markdowns are from 30 to 50 percent on spring and summer merchandise.

So far this year, he said, clothing stores have increased markdowns by 10 percent over 2004.

Still those markdowns did not cut significantly into profits, executives said.

"The evidence is in the enormous markdowns retailers have taken," he said.

That means initial prices are higher than if no markdowns were planned.

Are these markdowns all that they seem to be?

Or pick one of the 100,000 other reasons in your mind not to take a markdown."

They, too, have special 20-percent-off days, that is, 20 percent off the usual 30-percent markdown.

As a result, the company said, full-year markdown costs will be 5 percent higher than last year.

Small Markdowns In fact, the prices did not seem that low.

Soon they were using markdowns on popular items to lure people into their stores.

His markdown signs seldom stop, or even slow, anyone passing by outside.

So when markdown time comes, expensive imports can look a lot more appealing.

Markdowns on summer clothing, held in August, were largely to blame, he said.

After living through five years of deflation, most Japanese look for sales and markdowns before they buy.

Book executives disagree on the origins of the shared markdown.

The result, he said, is that the employees "become, in retail language, a markdown."

Most retailers contacted preferred not to speak about markdown money.