Retailers: Slow Month, Strong Finish
Slow Month for Retailers, but Strong Finish Is Seen
Source: nytimes.com
"A few weeks into the holiday shopping season, consumers are still not reaching for their wallets.
After a fairly robust October, retail sales slowed in November as the nation�s stores entered their critical time of year. Major sectors like apparel, luxury goods and jewelry experienced slight sales declines.
That might seem like an ominous sign about how the chains will fare this Christmas. But retailing analysts said the declines were minor and that many consumers were saving their powder for the day after Thanksgiving, the blowout shopping day known as Black Friday.
Retailing veterans expect stores to be bustling on Friday as frugal consumers hunt for bargains with newfound purpose. Retailing professionals are also cheered that stores have less inventory today than they did this time last year.
'Last year, we were in emergency nuclear discounting mode,' said Michael McNamara, vice president for research and analysis at SpendingPulse, an information service by MasterCard Advisors. 'This year, it's more strategic in nature.' "