Stores report solid sales
Posted: Tuesday, December 4, 2012 12:01 am
NEW YORK (AP) — Thanksgiving shopping may have taken a hit in Black Friday sales, but the overall start to the holiday season was solid, according to the latest data released last week.
Chicago-based-ShopperTrak, which analyzes foot traffic, said customer visits were up 8.2 percent for the four-day weekend, starting with Thanksgiving, while total sales rose 2.7 percent to $22 billion, compared with the same period a year ago. Last year sales were up 1.7 percent.
ShopperTrak said sales generated on Thanksgiving Day totaled $800 million, spurred by a slew of retailers opening earlier on Thanksgiving evening.
ShopperTrak’s co-founder Bill Martin expected sales of $500 million to $700 million on the holiday.
The firm said Saturday that Black Friday sales unexpectedly dipped 1.8 percent to $11.2 billion.
That’s the first decline for that day since 2008. However, customer counts rose 3.5 percent on the day after Thanksgiving, indicating shoppers were doing more browsing than buying.
Thursday and Friday accounted for 327 million shopping visits out of the 594 million visits for the four-day weekend.
“This was a pretty good start,” Martin said. But he added, “We are looking at Black Friday as a 30-hour day.”
This year retailers had their earliest start ever to the holiday shopping season, as major stores including Target Corp. and Sears opened on Thanksgiving evening.
Wal-Mart Stores Inc., the world’s largest retailer, started its sales at 8 p.m. Thursday, two hours earlier than a year ago. Martin says the good news was that shopping didn’t fall off dramatically on Saturday and Sunday but remained steady. Sales rose 5 percent on both days compared with the year-ago period.