Canadians to spend more in December, but weather still hampers quarterly sales
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TORONTO (CP) - With the economy in good shape, interest rates low and about 200,000 new jobs created this year, Canadians have increased their holiday shopping budgets and should be ringing up good cheer for long-suffering retailers this month.
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Boxing Day figures reveal poor sales, but bargain hunters are expected to turn out in force for post-Christmas shopping
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With Boxing Day falling on a Sunday, retailers reported more modest crowds than in the past at annual discount sales. But they expect to do brisk business this week, as many Canadians will not return to work until the new year.
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Business & money: Bargain-chasing shoppers force stores into heavy price discounting after slowest Christmas sales growth in three years
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Wal-Mart Stores Inc.  said on Saturday it still expects a 1 percent to 3 percent increase in December sales at its U.S. stores open at least a year.
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The nation's retailers had a slow start to the spring season as unseasonably cold weather in February chilled demand for lightweight apparel and left merchants with disappointing sales. The slowing economy, particularly the weakening housing market, could challenge shoppers in the months ahead.
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Post-holiday clearance sales and gift-card redemptions boosted January sales at major U.S. retailers, but the harsh winter weather that hit the Northeast and Midwest late in the month capped consumers' spending.
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Retail spending by Americans was  little changed in December as consumers anxious over the  housing slump and high oil prices held back on purchases during  the crucial holiday season, a report released on Friday showed.
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NEW YORK - Struggling with disappointing seasonal sales, the nationâs retailers remained on edge - wondering if they would get the big surge in last-minute Christmas spending they needed to meet holiday forecasts.
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Many U.S. retailers are expected to report disappointing December sales later this week, hurt by everything from the challenging economy to unfavorable weather to the calendar, which shifted more holiday sales to November.
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Holiday shoppers were not spending as freely as expected, causing worry for many economists and investors.
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Rising energy prices and slow job growth make buyers cautious as the nation heads into the holiday season.
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The average household will spend close to $1,000 on Christmas and the other gift-giving holidays this winter, according to some estimates.
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Wal-Mart Stores Inc. said on Saturday it still expects a 1 percent to 3 percent increase in December sales at its US stores open at least a year as sales of general merchandise and winter items improved in the latest week.
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TORONTO (CP) - Canadian adults will spend an estimated average of $991 this holiday season on gifts, clothing, travel, beauty services, food, drink and entertainment, an Ipsos-Reid survey suggests.
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December sales and sales for the fiscal year to date reported by leading retailers.
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For a lot of consumers, especially come December, the line appears to be blurring between giving and receiving.