Retailers See Little Late Holiday Buying
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The nation's retailers remained on edge, as the much-hoped for sales bonanza appeared not to materialize on the last weekend before Christmas, despite an abundance of deals on toys and apparel.
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The last minute will be a crucial one for U.S. retailers looking to make holiday sales as data released on Tuesday, one week before Christmas, show that consumers continue to procrastinate and that last week's wicked weather stymied holiday shopping.
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Major U.S. retailers reported modest gains in November sales on Thursday, as discounting lured customers, but high energy prices and nagging concerns about a soggy job market kept buying in check.
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Holiday sales are expected to rise,   though at a slower rate than last year as consumers fret about   the declining housing market, according to a National Retail   Federation economic forecast on Tuesday.
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Investor's Business Daily - The National Retail Federation said 33.4% of shoppers plan to spend less this year than last year while only 16.4% plan to spend more. The NRF has forecast the smallest sales gain in 5 years as falling home prices, higher food and energy costs and the credit crunch sap spending. Holiday sales account for 25% to 40% of retailers' annual revenue.
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The holiday shopping season is off to a running start, according to surveys released this weekend, though it was still unclear how that will impact retailers' profits.
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With only four more shopping days until Christmas, it&#39;s the retailers -- not the shoppers -- who appear to be feeling frantic.
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It hasn&#39;t exactly been a summer of fun for retailers this year -- but at least merchants can look forward to a little holiday cheer, an industry group said Wednesday.
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U.S. retailers are expected to post modest November sales this week, with No. 1 retailer Wal-Mart Stores Inc. already cutting its holiday outlook on high oil prices and warmer weather.
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The holiday shopping season began with a surge in spending, but consumers faded by the long Thanksgiving weekendâs close and many retailers were facing decent but hardly impressive sales.
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Retailers are still mulling the results from the first weekend of the holiday shopping season. But the outlook is still murky
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A surge in spending over the weekend may not have been enough to rescue Target, Sears Holdings and Macy's from the slowest holiday spending season in five years.
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Retailers expect the day after Boxing Day to be busier as bargain hunters continue the chase for cut-price items.
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U.S. stocks may not extend their recent rally much further this year, even though the holiday shopping season took off with a busy start as retailers lured consumers with deep discounts.
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Holiday sales are expected to rise at their slowest pace in five years as the weak housing market and a credit crunch temper consumer spending, the National Retail Federation said on Thursday.
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Retailers made up significant ground in the final week before Christmas after a lackluster start to the holiday shopping season, according to experts who track holiday spending.
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With less than two weeks of shopping left until Christmas, the nation's malls and stores stepped up discounts over the weekend, but business appeared to be mixed, according to analysts.