Not sure about HD/Lowes. I know ours were already starting to consolidate holiday stuff and last year I know our HD sold out of lights before Christmas. I'm going to be looking for a new tree for us, but wasn't impressed with the HD ones I saw last weekend.
If you're looking for mark downs on ornaments and smaller decor items, I have great luck at Lord & Taylor (especially) and Bloomingdale's. The L&T Christmas shop is one of my favorites. The ornaments are really good quality and the mark-down %s are pretty awesome.
I got a really nice tree at Home Depot two years ago. I sent my DH out bright and early the day after Christmas and there was not much left, I guess they had already marked down their Christmas merchandise. So I called my sister and got her to check at the HD near my parents' house and they had lots of Christmas stuff left. So she bought a tree for me. It was still $170 but I wanted a big one and it really looks good.
i will be going to Target then Pier 1 and i just got Lord & taylor coupons for after Christmas so maybe i'll take a look there since pp said it was good!
Around me the HD and Lowes were already sold out of Christmas stuff a week and a half ago. The seasonal aisle was filled with empty Rubbermaid boxes and cases of bottled water :,(