Christmas Gift Cards: Update
Posted By Vicki McClure Davidson on December 10, 2008
By Vicki McClure Davidson * Frugal Café Blog Zone
Rumors are a-swirling, fears are a-churning, retailers are a-courting… and a shredded credit card in a pear tree. Christmas 2008 is proving to be one of the most frugal on record for this generation. And I think that’s a good thing. However, there are still many people who are stymied about what to do about cutting back and what to give to folks at gift exchanges. There are a number of articles in Frugal Cafe’ that offer creative options that don’t require spending any or much money.
Concerning buying gift cards as Christmas gifts: still be cautious about buying cards from any retailer that is on shaky ground. Circuit City is still selling cards, even though the company has filed for bankruptcy. Other out-of-business retailers include Sharper Image and the Bombay Company. Linens ‘N Things is liquidating its inventory.
Last week, we reported a number of retailers to not purchase gift cards from; based on new information, several can be removed from the list.
Herb Weisbaum of MSNBC. com, in an article published yesterday, dispels some of the rumors after talking to company spokespeople who denied the claims. We’ve updated our earlier list to reflect Weisbaum’s new information:
- JC Penney: Was reported to be closing a number of stores after January. Denied. The company reported it will open 17 stores next year.
- Home Depot: Was reported to be closing 15 stores by the end of the year. Denied. The company, which operates more than 2,000 stores in the U.S., already shut down 15 under-performing stores in May 2008 and plans to open more stores in 2009.
- Zales: Was reported to be closing 82 stores and 105 after January. Denied. The company currently operates more than 2,100 locations in the U.S and Canada.It will also close all Piercing Pagoda stores. False. Only a few Piercing Pagoda stores were closed.
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