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December 2, 2008 11:48:58 AM CST

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Late Shoppers Spread Some Holiday Cheer

Posted Dec 25, 07 7:30 AM CST in Business 

(Newser) – Shoppers swarmed in a last-minute buying binge that will help most, but not all, retailers make the season’s sales projections. For the week ended Saturday sales rose 33% over a year ago and for the final weekend of the season were up 18.7%, reports the Los Angeles Times. Still, “a lot of retailers are going to be disappointed,” said one analyst.

Huge sales lured people into stores but procrastinating shoppers, hit with higher gas prices and worried about the economy, held growth down, perhaps lower than the 4% retailers hoped for. Target, hoping for a 3% to 5% rise in December same-store sales, may instead see a 1% drop.

Sources Los Angeles Times, Bloomberg

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Graphic shows holiday shopping statistics   (Associated Press)
Kim Ojacastro shops for Christmas gifts Monday, Dec. 24, 2007, in Pasadena, Calif. Just weeks ago, the holiday shopping season seemed headed for disaster. But in the waning hours before Christmas, the...   (Associated Press)
Last minute shoppers pack into Macy's the day before Christmas in New York, Monday, Dec. 24, 2007. Just weeks ago, the holiday shopping season seemed headed for disaster. But in the waning hours before...   (Associated Press)
Stephanie Nicholson, left, and Jason Ziwaq shop for Christmas gifts Monday, Dec. 24, 2007, in Pasadena, Calif. Just weeks ago, the holiday shopping season seemed headed for disaster. But in the waning...   (Associated Press)
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