Retailers gearing up for New Year’s sales

Retailers are gearing up for a second round of sales, with some outlets cutting prices by as much as 75 percent. The biggest price reduction should affect electronics, wear, toys and cosmetics. Some outlets have announced the biggest sale ever in an effort to get Czechs to spend money after disappointing retail sales in December. Czech consumers have generally cut back on spending and the prediction of a likely fall in real incomes in 2010 has not helped matters.