Hopes rise for robust holidays
An explosive spending spree over the Thanksgiving weekend gave U.S. retailers hopes for a robust holiday shopping season. But some signaled caution after stalwart Wal-Mart (WMT) reported tepid sales.
And later reports suggested that consumers may have faded by the long Thanksgiving weekend's close.
Total retail sales were up 10.8% on Friday compared to the day after Thanksgiving last year, but dropped 6.5% on Saturday compared to a year ago, ShopperTrak said Monday. As a result, total sales for Friday and Saturday combined increased a modest 3.5%. ShopperTrak is expected to release sales for the three-day weekend later Monday.
Other sales reports from widely recognized retail groups showed consumers shelling out billions for toys, luxury goods such as cashmere and jewelry and modestly priced consumer electronics such as DVD players.
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Total retail sales were up 10.8% on Friday compared to the day after Thanksgiving last year, but dropped 6.5% on Saturday compared to a year ago, ShopperTrak said Monday. As a result, total sales for Friday and Saturday combined increased a modest 3.5%. ShopperTrak is expected to release sales for the three-day weekend later Monday.
Other sales reports from widely recognized retail groups showed consumers shelling out billions for toys, luxury goods such as cashmere and jewelry and modestly priced consumer electronics such as DVD players.
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