November 28, 2008
Worldwide Exchange CNBC Correspondent: Jon, Jason was saying earlier that he is worried about European companies and their margins, he sees them getting a squeeze on their margins, do you expect that to happen to the retailers here in the United States?
Jon Winsett: Absolutely, they are watching this black Friday, and if the sales are not where they should be, you'll see some huge promotions come cyber Monday, and huge discounts, we're used to seeing 40 or 50% off, but we could see discounts like 60%, 70% event 80% off. And that really erodes their profits, and deepens their loss if they are already in the red, and so, retailers and going to feel a big squeeze this season.
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