Retailers buoyed by strong holiday start
New York – After what appeared to be a strong start to the 2007 holiday shopping season, the nation’s merchants are now hoping that shoppers will continue to keep buying until Dec. 25.
Shoppers had been pulling back in recent months amid a challenging economy, and the big worry is that after the big spending spree this past weekend, they will retreat over the next few weeks, only returning to malls for last-minute shopping.
Clearly, stores and malls worked hard to achieve the strong results, attracting bigger-than-expected crowds as early as midnight for discounted flat-panel TVs, digital cameras and toys on Friday. Strong sales continued through Saturday, according to one research group that tracks total sales at retail outlets across the country.
The biggest draw was electronics, benefiting consumer electronics chains like Best Buy Co. and discounters such as Wal-Mart Stores Inc. and Target Corp. Popular-priced department stores including J.C. Penney Co. and Kohl’s Corp. drew in crowds with good deals. Toy stores like Toys “R” Us Inc. fared well too. Still, apparel sales appeared to be mixed at mall-based clothing stores, though a cold weather snap helped spur sales of outerwear and other winter-related items.
