Reply #8: Thanksgiving Sales Attract More Shoppers, Less Average Spending [View All]

Nov. 30 (Bloomberg) -- 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 percent to an estimated $41.2 billion from $41 billion a year earlier, the Washington-based trade group said yesterday, 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 percent drop in spending this holiday season.
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Thirteen percent more shoppers visited at least one department store this year, the NRF said. Internet spending on Black Friday, the day after Thanksgiving, rose 11 percent from a year ago, to $595 million, ComScore Inc., a Reston, Virginia- based research firm, said yesterday in a statement.
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Holiday sales make up a third or more of retailers’ annual profit. The International Council of Shopping Centers, another industry trade group, predicted sales at stores open at least a year will advance 1 percent in November and December after a year-earlier 5.8 percent decline, the worst in 40 years.

http://www.bloomberg.com/apps/news?pid=20601103&sid=aHvhM17LEIRU