Retail Sales November 30, 2009, 12:01AM EST text size: TTHoliday Sales to Drop as Forecasters See 'Discipline' |
| BusinessWeek - Nov 30, 2009 |
More consumers went shopping over the Thanksgiving holiday weekend, yet spent less than last year as they hunted for bargains on toys and electronics, according to the National Retail Federation.
Spending at stores and on Web sites from Nov. 26 to Nov. 29 rose 0.5% to an estimated $41.2 billion from $41 billion a year earlier, the Washington-based trade group said Nov. 29, citing a survey conducted by polling firm BIGresearch. The higher turnout and lower average spending were in line with expectations, the NRF said. The group is sticking to a forecast for a 1% drop in spending this holiday season.
Price cuts on small appliances, toys, and winter clothes helped bring shoppers into chains including Macy's (M), J.C. Penney (JCP), and Wal-Mart Stores (WMT). On so-called Cyber Monday, 96.5 million people plan to shop on the Internet to take advantage of limited-time offers and free shipping, according to the NRF. That would be a 14% increase from 2008.
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- Posted: 2009-11-30 10:49:23
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