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Holiday weekend a turkey for stores
Survey finds sluggish 2.9% rise in sales over weekend kicking off crucial holiday shopping season.
November 30, 2004: 2:55 PM EST

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NEW YORK (CNN/Money) - Booming Black Friday sales didn't hold up over Thanksgiving weekend, marking a disappointing start to the holiday shopping season, according to an industry report Tuesday.

Total sales for Friday, Saturday and Sunday rose just 2.9 percent, according to the report from market research firm ShopperTrak.

While sales through Saturday increased 3.5 percent from the same period in 2003, sluggish sales on Sunday dragged the final tally for the weekend down, the report said. The long holiday weekend got off to a strong start with sales on Black Friday up 10.8 percent.

"Although Sunday was the weakest day of the Thanksgiving weekend, retailers shouldn't be too alarmed as this is a typical and traditional pattern from previous years," Michael Niemira, chief economist at the International Council of Shopping Centers and an author of the ShopperTrak report, said in a statement.

"Additionally, there are two more shopping days this year than last, which may have caused soft Black Friday weekend sales as people wait longer to shop." Niemira added. "Nevertheless, after Friday's robust performance, these numbers are slightly weaker than industry analysts would have expected."

Additionally, ShopperTrak reported that sales for the week ending Nov. 27 rose 11.6 percent from the same period a year earlier, contradicting two other reports Tuesday that indicated sluggish sales for the week as a whole.

One reason for the discrepancy is that the ShopperTrak numbers tally total retail sales from store chains and not just sales at stores open at least a year, known as same-store sales.

"Growth rates for total sales tend to be higher than same-store sales," Niemira said. "The other difference is that the ShopperTrak data is also adjusting for seasonal shopping patterns."

ShopperTrak monitors sales data from 30,000 merchants nationwide.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.