RETAIL TRADE: A Bargain Christmas

For parents pouring through the festooned toylands of the U.S. last week—and caching away their finds on high closet shelves—the shopping had seldom been easier on the budget, or the variety of toys greater. Toys were bigger, more complex, better made and, believe it or not they were cheaper. Manufacturers' retail prices were a catalogue fiction; price-cutting was the fact everywhere.

Sears Roebuck and Montgomery Ward 3 selling toys 30% to 40% off. Manhattan's Macys, was moving bestselling new toys below cost. Even venerable F.A.O. Schwartz, "Tiffany of the Toy World," was...

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