Yahoo's headlines. I wonder how this will affect the markets this week? Seems like bad news to me.
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Shoppers Crowd Stores but Spend Modestly
NEW YORK - The 2005 holiday shopping season got off to only a modest start over the Thanksgiving weekend as consumers responded initially to aggressive discounting and then retreated.
"There was a lot of hype, a lot of promotions and lot of people, but the results were on the lukewarm side," said Michael P. Niemira, chief economist at the International Council of Shopping Centers, estimating that the weekend's sales results were down from a year ago. He said heavy markdowns forced retailers to sell more goods in order to meet sales targets.
Analysts said there was heavy shopper traffic early Friday when stores opened even earlier than usual for the day after Thanksgiving, offering deep, deep discounts. When the early-bird specials were over, consumers lost their enthusiasm.
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Shoppers Crowd Stores but Spend Modestly
NEW YORK - The 2005 holiday shopping season got off to only a modest start over the Thanksgiving weekend as consumers responded initially to aggressive discounting and then retreated.
"There was a lot of hype, a lot of promotions and lot of people, but the results were on the lukewarm side," said Michael P. Niemira, chief economist at the International Council of Shopping Centers, estimating that the weekend's sales results were down from a year ago. He said heavy markdowns forced retailers to sell more goods in order to meet sales targets.
Analysts said there was heavy shopper traffic early Friday when stores opened even earlier than usual for the day after Thanksgiving, offering deep, deep discounts. When the early-bird specials were over, consumers lost their enthusiasm.
