Retailers Flailing

Another Christmas season dies aborning:

In an attempt to keep shoppers coming, retailers are extending their Black Friday promotions into December — a tactic rarely employed to this extent. To avoid being caught in January with excess inventory from 2013, many are choosing to sacrifice profit margins by preemptively discounting this month.

Cohen said the type of bargains normally reserved for the week after Christmas are "now available a month in advance."

"This is the drowning man phenomenon — some retailers appear to be flailing around desperately trying to keep their heads above water," he said.