So quiet here on this thread and SI as Americans became shoppers on the three days after Thanksgiving. Discounters are flooded with shoppers. WalMart had the biggest Saturday with 1.25 Billion in sales. Savings from cancelled trips and vacations are being spent on merchandise for the homes and gifts for the kids.
Sunday November 25 2:23 AM ET
Electronics, Toys, Clothes Top Holiday Lists
dailynews.yahoo.com
By Bob Burgdorfer
CHICAGO (Reuters) - Home electronics, toys, clothes and Harry Potter (news - web sites) were the top-selling items on Saturday as shoppers did their part to make sure the post-Thanksgiving weekend remains the nation's busiest shopping weekend and retailers cut prices to tempt them to spend in a slow post-Sept. 11 economy.
Shoppers returned in droves to Wal-Mart Stores Inc (NYSE:WMT - news). Saturday, a day after the discount retailer reported record one-day sales of $1.25 billion.
``We had heavy traffic in the stores. Customer counts were up,'' said Tom Williams, a Wal-Mart spokesman.
The three-day weekend got off to a fast start with Friday's same-store sales up 2.4 percent nationwide from a year ago, according to TeleCheck Services, the nation's largest check authorization company.
``Those are good numbers considering we are in a recession,'' said William Ford, TeleCheck's senior economic advisor, on Saturday.
TeleCheck projects that same-store sales during the holiday season that stretches from Nov. 23 to Dec. 24 will be up 2 percent nationwide.
Many store chains will not have sales figures until next week, but early returns have been encouraging. Some economists had predicted holiday sales could be down 4 percent or more from a year ago because of the slowing economy and general gloom after the Sept. 11 suicide aircraft attacks.
``I would say sales are flat to slightly above last year,'' said Karen MacDonald, spokeswoman for Taubman Centers Inc (NYSE:TCO - news). which operates 31 shopping centers in 13 states.
The National Retail Federation, which represents the nation's retail stores, forecasts a 2.5 percent increase in holiday sales to $206 billion.
``Consumers are armed with a lot more spending power than people think,'' said Scott Krugman, spokesman for the National Retail Federation.
Less out-of-town traveling, low interest rates, and federal tax rebates have put more money in consumers' pockets, he said.
Holiday sales are important to retailers because they typically account for 25 percent of the retailers' annual sales. The weekend rush generally begins on the Friday after Thanksgiving and extends through Sunday.
In Chicago, stores were busy as mild weather drew shoppers in from the suburbs. Sitting at Chicago's Union Station surrounded by bags from American Girl and Jos. A. Bank stores was Virginia Thompson, who was staying with her cousin in the Chicago suburb of Naperville, Illinois.
``The stores are crowded and the streets are incredibly crowded,'' said Thompson, a Washington obstetrician/gynecologist.
Thompson said her holiday spending will be about the same as last year and she will probably continue shopping until Dec. 24.
The mild weather also helped sales.
``The weather is in our favor today (Saturday). In the Midwest it is 50 to 60 degrees with light rain and mist, which is just perfect for shopping,'' said Taubman's MacDonald.
Because of aggressive discounting and special store hours on Friday, shoppers were slower to arrive at stores on Saturday, which MacDonald said is typical during the weekend after Thanksgiving.
``Friday was a good day for us,'' said Peggy Palter, spokeswoman for Sears, Roebuck and Co. (NYSE:S - news). ``Electronics was a very strong area.''
In addition to DVD players and big-screen TVs, Palter said, roller skates that can be converted into sneakers were another hot seller. ``They are calling them the scooters of this year,'' said Palter, referring to last year's two-wheel scooter craze.
Stores also reported strong sales of toys, men's and women's apparel and jewelry.
Toys and apparel linked to the new movie ``Harry Potter and the Sorcerer's Stone'' were hot sellers.
``Everybody is going nuts for Harry Potter,'' said TeleCheck's Ford.
Discounts abounded, with top retailers like Kmart Corp (NYSE:KM - news), Sears and Wal-Mart all offering reduced prices that in the past have been reserved for after the holidays.
On Friday, Sears cut prices 10 percent on all items, even those already on sale. Discount retailer Kmart cut prices from 20 to 70 percent during a four-day sale that began Thanksgiving and ends late on Sunday. Kmart will also keep its more than 2,100 stores open for 66 straight hours from Friday through 11 p.m. local time on Sunday.
Security was tight, with some stores hiring off-duty police officers or advising their security forces to be extra vigilant. No incidents were reported on Saturday.
Early on Friday, a man set himself on fire at a shopping mall near Rockford, Illinois, northwest of Chicago. Shoppers doused the flames and the man was taken to a local hospital. |
