Make sure deals are real

November 25, 2008 3:00:01 PM PST
Discount clothing retailer Steve and Barry's announced today that all 173 of its stores will be closing in the next five to 7 weeks.

Employees say they expect 30% off sales could begin by the end of this week.

Going out of business sales are already under way at the Atlantic Book Warehouse in Montgomeryville, which lost its lease, and at the five local Value City Department stores.

Their ads promise at least 25-40% off their everyday prices.

Tweeter's store-closing sales have been running all month.

Merchandise is now 40-60% off. A company spokesman says the discounts will increase to 80% before the stores close in mid-December.

Clearly, there are deals to be had at store-closing sales. But an abc News investigation found that some of the discount prices might not really save you money.

Linens and Things' website promises savings of 25-50% during their going-out-of business sale.

Mary Mamzic thought she was getting a good deal... When she paid $14.99 for a turkey lifter -- but when she peeled back the price tag, she found it had once sold for $12.99.

She said, "I'm really disappointed that they would do that."

Liquidation companies -- hired to sell off inventory -- will sometimes raise prices at first... But then offer deeper discounts as the sales go on.

Locally-owned Jack Kellmer Company is not using a liquidator to sell their jewelry inventory.

And Mr. Kellmer himself says the discounts they're advertising are real.

Sale prices are advertised as "Up to 70% off."

"It doesn't necessarily mean that everything is 70% off right now," he said. But he added that as the sale continues, remaining inventory will be offered at steeper discounts.

Here are the links to some of the store mentioned in this story:
Jack Kellmer Co.
Tweeter
Atlantic Books
Steve and Barry's
Value City
Linens and Things


Load Comments