Discounts aren't going away anytime soon as budget-squeezed consumers continue to demand deals, but some retailers are finding ways to cut back on promotions in search of better margins, a hot topic as executives reflected on the holiday season at the ICR XChange this week. "This year was a very compressed holiday season right up to the end, and we had lines that were 50 to 70 people deep, an hour wait to buy a gift card," said lululemon CEO Christine Day.

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