THE HARD SELL

Smart retailers are starting to rethink their approach. Instead of just slashing stock levels, slowing expansion, and discounting deeply, they're getting creative about managing inventory, adjusting product lines, and dumping their addiction to promotional pricing. A few risk-takers are even adding stores or raising prices. Over the coming weeks they will find out whether those initiatives will set them up to thrive during another tough holiday season--or at least survive. Strategies they're using in this year's brutal sales battle are discussed.