Sharing Daily Discoveries About Personal Finance And Business Topics

Marked Up Out of Business Prices

financial planning

As mentioned many times, usually when you see sale signs indicating that an item is say 50% off you still have to do your due diligence as that sale price may not be all that it seems. As many of you may know, the business Linens N’ Things has recently started a going out of business sale and stores are advertising a 10% to 30% off on all the products in the store.

I must have passed at least two of these stores here recently and they sure know how to draw a crowd with these big yellow signs plastered everywhere about them going out of business. From my experience though, this is one of the most expensive retail places there is to buy stuff. Even with the discount, from what I saw it was still more expensive than other places most of the time

Someone then just recently forwarded me this video about one of the stores in the US and it was a pretty interesting watch. Essentially, it looked like someone got lazy in the company and in the process of changing prices they simply just stuck a new price tag over the old one. That sure didn’t make them look too good. You can watch the video at

http://www.thebostonchannel.com/video/17851557/index.html

In all fairness, sometimes a business does have to mark up prices in order to adapt to the market condition. While that may have been the case here too, this was a great possible example I thought on how you have to be careful in not placing all your trust and judgment on those sale signs to be certain that you are getting a good value.




2 Comments to Marked Up Out of Business Prices

  • In this case of Linens and Things, is it legal for them to mark up the price and have it go on sale? Is there a law about this, as far as consumer protection?

    lauren 11/25/2008 3:37 pm
  • I personally don’t know any laws about markups in this case as it seems like a perfectly legitimate business practice. I think the only grey area would be if they advertised an item at a specific price and then seeing that it is different when you walk into the store.

    Alan Yu 11/26/2008 12:33 am

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