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December 2, 2008 11:47:00 AM CST

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Retailers Await Last-Minute Gift From Shoppers

Posted Dec 24, 07 9:17 AM CST in Business 

(Newser) – Last-minute shoppers navigated long lines over the final pre-Christmas weekend, nudging retailers toward the modest growth in sales they’d expected. Deep discounts cut into profits, but retailers like Macy's and Kmart stayed open around the clock to accommodate shoppers, the Wall Street Journal reports. “The procrastinators finally got out there,” one consultant said.

Rising energy costs and lagging home sales made shoppers cautious this season, and many delayed buying to take advantage of huge markdowns. A Best Buy spokesman said the electronics retailer stocked shelves in anticipation of a late surge, as "customers are shopping later and later each year." He predicted a “strong finish.” A trade group projected a 4% growth in sales, the smallest in five years.

Source Wall Street Journal

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Visitors view the Christmas windows at Saks Fifth Avenue Dec. 20, 2007 in New York City. With Christmas days away, merchants are hoping last-minute shoppers will help them rebound from a slow holiday...   (Photo by Mario Tama/Getty Images)
Tracy Conrad hauls shopping bags during a visit to San Francisco's Union Square. Retailers are hoping for a late shopping surge.   (Associated Press)
Graphic shows results of a survey about holiday shopping.   (Associated Press)
A shopper looks at discounted rain boots in the Gap store at the Great Mall in Milpitas Calif. in this Nov. 23, 2007 file photo. (AP Photo/Marcio Jose Sanchez, file)   (Associated Press)
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retail sales • Christmas • holiday shopping • online retailers • Best Buy • Macy's • discounts • Kmart


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