Yahoo NewsNEW YORK - The start of the holiday season was respectable but unimpressive for many of the nation's retailers, with consumers jamming stores and malls on Friday and pulling back as the weekend wore on.
Big chains including J.C. Penney Co. Inc. and Sears, Roebuck and Co. were pleased with their sales. But Wal-Mart Stores Inc. was less fortunate — the industry leader said its sales in the seven days that ended Friday were disappointing, and the company lowered its sales forecasts for November.
"Friday overall was strong, but Saturday was weak and disappointing, so together it was only a modest two-day performance," said Michael P. Niemira, chief economist at International Council of Shopping Centers. "Still, I continue to believe that this is not a bellwether for how the season will end up."
Was that the U.S. economy or the streets of Iraq that were 'booming' again? Can't wait to see how the MSM polishes this piece of turd this week.
I had to look on this one, because I saw a story yesterday citing sales of $8.7 billion, a marked increase from last year, on Yahoo yesterday.
Well I guess if Wal-Mart, which has a store on every freakin' block, didn't do as well as it thought, the economy is screwed.
Your Christmas present Dan!
Don't worry, I'm sure sales at Neiman-Marcus and other high-end specialty shops and department stores will do well. Walmart sales forcasts are the measure of 'average consumers'. Look for many people to buy on credit at the last minute.
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