NEW YORK -- Christmas is six weeks away, but U.S. department store chains have already started slashing prices to attract holiday shoppers. J.C. Penney, Sears and Kohl's chopped prices by as much as 50 percent storewide this past weekend, CNN reported Monday.
"The next few weeks until Thanksgiving is a very important time for us, and it's also a heavily promotional period," said Penney spokesman Tim Lyons. "We'll continue to have more mid-week and weekend sales similar to this past weekend."
Lyons would not offer specific details about subsequent sales, citing competitive reasons. However, he did say shoppers should expect more blockbuster price cuts closer to Christmas.
Business in November and December can account for as much as 50 percent of sales and profits at many chains.
Black Friday, as the day after Thanksgiving is known, marks the official start of the holiday gift-buying.
