Wal-Mart to sell HP laptop for $298, Thanksgiving dinner for eight people for $20

Retail giant Wal-Mart announced more holiday price reductions today, including a $20 Thanksgiving dinner for eight people.

For one week starting Saturday, Wal-Mart stores will hold an electronics savings event which includes an HP laptop with 3GB of memory for $298; a Sharp 52-inch flat-panel television for $898 and a Sony Blu-ray player for $148.

"It will be evident through the coming weeks that this year Wal-Mart will offer more opportunities for our customers to save than ever before," said Gary Severson, senior vice president of entertainment for Wal-Mart.

The world's largest retailer has promised new markdowns every week until Christmas. Customers can find more information about the chain's price reductions and holiday savings here.

-- Andrea Chang

Hollywood Studio Collection's sample sale ends today

Movie buffs can own a piece of the silver screen at the Hollywood Studio Collection's sample sale at the Hollywood Roosevelt Hotel. Thousands of wardrobe pieces from various movie sets will be sold during the event, which ends today and includes vintage clothing, shoes, decor and props.

According to the event's promoters, the sample sale will feature "unidentified" items that "have been used by some of today and yesteryear's hottest and most influential movie stars," leaving the buyer to figure out what movie the piece came from. Prices start at $10.

"This is part of the excitement," said James Ronald Whitney, president of the Hollywood Studio Collection and an Emmy Award-winning producer and filmmaker. "For the first time ever, both the fans and the general public can play researcher. Maybe they'll find the dress shirt worn by Tom Cruise in the infamous scene in 'Risky Business' or the sneakers Kevin Bacon debuted in 'Footloose.' The thrill is to purchase an item at a great price, only to later discover that it's worth significantly more."

Organizers say a portion of the proceeds will be donated to children's advocacy charities.

The sale ends at 10 p.m. and is being held in the Oscar Room of the Hollywood Roosevelt Hotel. Admission is $5.

-- Andrea Chang

[Updated] Gap premium denim line officially launches

After weeks of hype, Gap officially launched its premium denim line today with new styles such as the Sexy Boot and the Always Skinny.

The 1969 Premium Jeans, which have been rolling out in stores in recent weeks, replace all of the chain's old denim and start at $59.50 for women and $54.50 for men -- the same price as the former line.

Selling premium denim is a new concept for classic and casual Gap, which is hoping to take market share away from designer denim brands such as True Religion and 7 for All Mankind.

"Denim is our birthright -- I think we have ceded some of our business to others over the years as the market has changed and as people have looked to status brands," Marka Hansen, president of Gap North America, said in an interview. "We're not changing our positioning, not at all. What we're trying to change is relevance."

The apparel company has seen its sales and image sag in recent years as customers have turned to more stylish competitors.

For the full article, click here.

-- Andrea Chang

Photo: Patrick Robinson, Gap's executive vice president of design, led the overhaul of the chain's denim line. Credit: Ken Hively / Los Angeles Times

[Update: Here's a video explaining it all.]

One-third of consumers plan to spend less on holiday season

The holidays are still months away, but already consumers are worrying about their budgets.

According to a survey by BIGresearch, more than one in three consumers (36.2%) said they would spend less this holiday season than last year's. Just 2.7% of consumers said they would spend more, and 26.1% plan to spend the same. (29.1% say it’s too early to know and 5.8% don't celebrate the season.)

Among those planning to spend less, the majority (69.1%) said they would slash their overall budgets. Other plans include buying only gifts on sale (48.3%), doing more comparison shopping (40.4%), buying for fewer relatives (32.4%) and giving presents to fewer friends (30.7%).

-- Andrea Chang

99 Cents Only to sell nine iPod Nanos for 99.99 cents at store opening

The 99 Cents Only chain loves a good gimmick, and on Thursday it will celebrate the grand opening of its new store in San Marcos by selling nine 8GB iPod Nanos for 99.99 cents each.

The next 99 customers can purchase a scooter for only 99.99 cents.

And there's more: The next 99 customers can purchase the "Art of Pirates of the Caribbean" book for 99.99 cents and the following 99 customers can purchase a Belkin Netmaster Mouse for — you guessed it — 99.99 cents.

Shoppers also can participate in prize raffles and enjoy food samples at the store, which will open at 8 a.m. It is at 155 S. Rancho Santa Fe Road in the San Marcos Village Shopping Center.

The City of Commerce-based chain will continue selling promotional items through July 1 at the store, including an Oneida cutlery block and a back massager.

—Andrea Chang

Young Americans improving saving, spending habits

It took a while, but the seriousness of the economic meltdown finally seems to be sinking in for the younger set.

Gen Y members between the ages of 20 and 29 are saving more, spending less and generally doing a better job of managing their money, according to recent data from Fidelity Investments.

Most -- 84% -- have limited their discretionary purchases, and nearly half of those are putting aside a median of $150 a month for rainy days.

The top sacrifices: travel and vacation expenses, followed by spending on consumer goods such as electronics and clothes.

Young Americans are focusing on buffering their emergency funds, paying off credit card bills and storing money in checking and savings accounts. Meanwhile, their older counterparts are draining their savings trying to make mortgage and auto loan payments.

Still, Gen Y is a little shaky on the mechanics of saving. Nearly half don’t know where to direct their savings in order to reap the greatest tax benefit, and a similar number don’t use a budget to manage their monthly finances.

But 55% of young people would welcome help developing a budget, and 89% want general financial guidance. Still, 58% have yet to ask for professional direction because it’s seen as too expensive.

-- Tiffany Hsu

True Religion opens a Century City store

Premium denim retailer True Religion -- maker of jeans that can cost almost as much as a washing machine -- opened a new store today at the Westfield Century City Shopping Center. The store is the Vernon company's seventh in Southern California and its 51st overall.

The 1,324-square-foot location carries the entire True Religion collection for men, women, kids and infants, including its trendy jeans, a growing denim sportswear and handbag collection and licensed products such as footwear, swimwear, headwear and fragrances.  The jeans often come with details such as flaps on the pockets and large, multicolored stitching.

True Religion Apparel has boutiques in the U.S., Canada, Germany, Britain, Japan, Korea, France, Spain, Sweden, Greece, Italy, Mexico, Australia, South Africa and China. Its True Religion Brand Jeans, which retail for $172 to about $400, also can be found at upscale department stores, specialty boutiques and online.

True Religion says it plans to open a store in the Beverly Center in mid-May and one in Malibu in late 2009.

-- Ron White

Photo: Jeffrey Lubell, CEO of True Religion, with some of his clothing line in January at his factory in Vernon. Credit: Wally Skalij / Los Angeles Times

Neiman Marcus opens Camarillo outlet store

Neiman Marcus and discount shopping don't usually hang together. The Dallas retailer didn't get its nickname "Needless Markup" for nothing.

But starting today, Southern California gets to see how Neiman does cheap. A Neiman Marcus Last Call Store opens today at Camarillo Premium Outlets. It's Neiman's 24th Last Call store and the third in California, joining outlets in San Diego and Milpitas. The company plans to open another location at the Block at Orange in September.

The merchandise comes from Neiman's store and Web operations or directly from vendors carried in the main stores, the company says. Merchandise includes designer apparel and accessories for men, women and children as well as toys, home decor and gifts. Savings usually are 30% to 65% off original Neiman Marcus prices.

-- Nancy Rivera Brooks

Travel sites waive booking fees

Bye-bye, booking fees.

The big travel sites (Priceline, Expedia, Travelocity, Orbitz) are packing up those pesky $7-$12 fees they charge when you book a flight through them -- at least for now.

But how good a break is this really?

Consuming Interests, the consumer blog at our Tribune Co. sister newspaper the Baltimore Sun, says the very best airfares often are found on the airlines' own websites, not on outside travel sites.

But don't snub those middlemen completely. Use third-party sites to research prices (also Sidestep, Kayak and Vayama), shop for vacation package deals and look for those rare fare deals that the airlines don't have.

-- Nancy Rivera Brooks

Photo: An American Airlines Boeing 737-800 at Dallas Fort Worth International Airport. Credit: Associated Press

Is Corona beer losing its fizz?

Here's another scary recession story: Sales of Corona Extra, the most popular imported beer in the U.S., are declining.

So are shipments of No. 2 Heineken, as measured by Beer Marketer's Insights, a trade publication. Overall, imports have lost ground to cheaper domestic beers and craft beers, such as Sam Adams and Fat Tire, researchers say in the story from the Los Angeles Times' Business section.

It appears that when the economy goes into the tank, drinkers look for something less expensive in which to drown their sorrows.

-- Nancy Rivera Brooks

Photo: Corona Extra sales slip. Credit: Associated Press