Stores Kick Off Post-Christmas Shopping
The nation's retailers ushered in the post-Christmas shopping season on Tuesday by slashing prices even more on holiday items and stocking up on fresh merchandise. Federated Department Stores Inc.'s Macy's opened its doors at 7 a.m. and offered discounts ranging from 50 percent to 75 percent. Toys "R" Us Inc. offered 50 percent discounts on selected toys. The toy seller was also showcasing hot toys from 2007 in its stores. Based on data released late Sunday by ShopperTrak RCT Corp., sales for both Friday and Saturday generated a combined $16.2 billion, with Saturday's business totaling $8.72 billion. But Bill Martin, co-founder of ShopperTrak, said he had expected the finale to be stronger; because it wasn't, stores need a good post-Christmas season to meet ShopperTrak's 5 percent holiday forecast. The post-Christmas season has become more important with the increasing popularity of gift cards. Gift card sales are only recorded on retailers' balance sheet when cards are redeemed. According to BigResearch, which conducted a poll for the National Retail Federation, consumers are expected to spend a total of $24.81 billion on gift cards this holiday season, up from $18.48 billion last year. A poll of 1,200 shoppers conducted by Kurt Salmon Associates from Nov. 30 to Dec. 5 found that half of respondents said they plan to take advantage of the post-holiday sales.
Source: AP
posted by Stock Administrator @ 11:53 AM
Stores Kick Off Post-Christmas Shopping
The nation's retailers ushered in the post-Christmas shopping season on Tuesday by slashing prices even more on holiday items and stocking up on fresh merchandise. Federated Department Stores Inc.'s Macy's opened its doors at 7 a.m. and offered discounts ranging from 50 percent to 75 percent. Toys "R" Us Inc. offered 50 percent discounts on selected toys. The toy seller was also showcasing hot toys from 2007 in its stores. Based on data released late Sunday by ShopperTrak RCT Corp., sales for both Friday and Saturday generated a combined $16.2 billion, with Saturday's business totaling $8.72 billion. But Bill Martin, co-founder of ShopperTrak, said he had expected the finale to be stronger; because it wasn't, stores need a good post-Christmas season to meet ShopperTrak's 5 percent holiday forecast. The post-Christmas season has become more important with the increasing popularity of gift cards. Gift card sales are only recorded on retailers' balance sheet when cards are redeemed. According to BigResearch, which conducted a poll for the National Retail Federation, consumers are expected to spend a total of $24.81 billion on gift cards this holiday season, up from $18.48 billion last year. A poll of 1,200 shoppers conducted by Kurt Salmon Associates from Nov. 30 to Dec. 5 found that half of respondents said they plan to take advantage of the post-holiday sales.Source: AP
posted by Stock Administrator @ 11:53 AM
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