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American Morning
Law of Diminishing Returns Does Not Apply Today
Aired December 26, 2001 - 07:50 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
MILES O'BRIEN, CNN ANCHOR: Well, the law of diminishing returns does not apply today, unless it says, if you hadn't bought so much Christmas stuff that your friends and didn't want it, they wouldn't have to return it.
Al Zimmerman of CNN affiliate Bay News 9 is live in Tampa this morning to talk about the rite of many happy holiday returns.
Al, good morning to you.
AL ZIMMERMAN, BAY NEWS 9, TAMPA: Good morning to you, Miles.
You know, I can't understand why people don't wait a few days and come to the mall or return their stuff then, because the mad rush will be on in just a few hours.
I'm standing in the parking lot of one of Tampa's biggest malls. And we expect in an hour or so for cars to be pulling in so people can start lining up in front of the doors, which of course, are currently locked.
And you know, besides the returns, a lot of the retailers here are hoping to get more business, because with kind of the bad shopping season they've had so far, they need all the business they can get.
Retailers hope to ring in the new year by ringing up enough sales to make up for a dismal December. Analysts say stores across the country have slashed prices to clear out merchandise before their spring shipments arrive.
That means shoppers would see discounts they haven't seen in years. But for most retailers, the news still isn't good. A heavy discounting will likely erode profit margins.
Amy Michaels (ph), who owns a mall store called Wicks'n'Sticks remains optimistic. She says, this final week of December could help turn those sales figures around.
AMY MICHAELS, OWNER, WICKS'N'STICKS: We anticipate our sales being up for the year. We remain hopeful.
ZIMMERMAN: But no matter how busy stores get today, analysts say most retailers will not meet their holiday sales forecasts, that it's just too late for that. Now, if you head out to the mall, if you head out to return some of those items, a bad tie or something you don't like, expect big crowds because, I am told that the discounts will be huge.
They normally have discounts the day after Christmas, but the ones this year will apparently be pretty good and draw one heck of a crowd.
Miles.
O'BRIEN: No crowds just yet, but I imagine you'll be in the line there, Al, maybe a bad sweater or two that you've got to get rid of?
ZIMMERMAN: You know, I have to say, since probably a lot of my friends and family are watching, that every gift was perfect that I got.
O'BRIEN: Perfect gifts. All right, Al. Thank you very much. Have a happy day there in Tampa.
ZIMMERMAN: Sure.
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