Too Much, Too Soon?

It was the most dramatic price cut of the year. For months clothiers had watched men's suits pile up on the shelves and racks in their stores. Last week Crawford Clothes, Inc.'s Joseph Levy, one of the biggest sellers of men's clothes, slashed prices 20% across the board.

Crawford Clothes was not the only clothier to take drastic action. In Chicago, Robert Hall Clothes bought up a manufacturer's entire stock of $50 flannel suits, and bragged in full-page ads that it was "shooting the works for $19.95." Retailers remembered their old maxim: sales of men's clothes are the first to...

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