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Retail sees slim gain
November 29, 2010, Monday
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Print Edition
UNITED States shoppers crowded stores on Black Friday but spent just a little more than last year on the traditional start of the holiday shopping season, according to data released on Saturday by a research firm.
Retail spending rose a slight 0.3 percent, to US$10.69 billion, compared with US$10.66 billion on the day after Thanksgiving last year, according to Chicago-based ShopperTrak.
Two factors behind the slim gain, a disappointment following bullish reports from stores last Friday, were heavy discounts earlier in November and online shopping, which saw a big increase.
Shoppertrak, which tallies sales in more than 70,000 retail outlets across the country, said the total was still a record for the day. It stood behind its prediction for spending to rise 3.2 percent for the season.
Retail spending rose a slight 0.3 percent, to US$10.69 billion, compared with US$10.66 billion on the day after Thanksgiving last year, according to Chicago-based ShopperTrak.
Two factors behind the slim gain, a disappointment following bullish reports from stores last Friday, were heavy discounts earlier in November and online shopping, which saw a big increase.
Shoppertrak, which tallies sales in more than 70,000 retail outlets across the country, said the total was still a record for the day. It stood behind its prediction for spending to rise 3.2 percent for the season.
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