Good show all around and a nice bonus to see it up so soon after the last one.
On gift cards:
Maybe it was the alcohol, but I'm not sure why Garnett is so skeptical about giving gift cards because people may not use them.
Companies are actually screwed if you buy or receive a gift card and it isn't redeemed since they can't report the revenue until it's actually spent which is why many companies were charging "service charges" or similar fees to slowly reduce the value of the card and report that income. (Legislation has been passed to protect consumers from these predatory fees but it's understandable why stores have to figure out a way to have these purchases register.)
Stores typically run big sales after big gift-card holidays to get consumers to take them out of their wallets so they can show increased quarterly earnings which affect their stock prices/profitability and reduce stock as they move into January which is when they try to clear out all their merchandise for the dreaded January inventory season.
Nov 30, 2010 5:02am PST