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US retailers buoyed by strong holiday start

(Agencies)
Updated: 2007-11-26 10:06

Frederick Crawford, managing director at AlixPartners, a turnaround consulting company, said that amid economic challenges, people are buying fewer gifts.

"Clearly, it was mission-based shopping," Crawford said. "People had their list, and they were very specific in what they were looking for."

Consumers were out looking for bargains.

"The bargains are better this year, a lot better," said Theresa Calib, of Houston, Texas, who was at the local Greenspoint mall Saturday. "We always know what we want to get, and we get it." She noted she took advantage of Foot Locker Inc.'s two pairs for $89 sale.

I'm trying to get everything done, and I did it," said Pat Marcantonio, of Wakefield, R.I., who returned Saturday to the Warwick Mall after braving the crowds Friday morning.

Marcantonio also shopped for herself Saturday, loading up a Bath & Body Works bag full of frosted cranberry and sweet pea lotions. Bath & Body Works was offering select gift sets at 30 percent off.

Meanwhile, in downtown Philadelphia, Barbara McGlade, of Wyndmoor, Pa., had picked up deals on fleece clothing at Modell's, with prices marked down from $29.99 to about $15.

"If I see something now, I'll pick it up," McGlade said. "You don't know if you'll see it again."

The nation's stores worked hard to lure shoppers with expanded hours, including midnight openings, and a blitz of early morning specials Friday. J.C. Penney and Kohl's opened at 4 am, an hour earlier than a year ago.

Many stores were also more focused on discounting products that they knew shoppers wanted. Gail Lavielle, a spokeswoman at Sears Holding Corp., which operates Kmart and Sears stores, said it zeroed in on great deals on electronics, instead of offering deep discounts on a wide range of products. Still, analysts say frustrations were high across among shoppers who couldn't get their hands on limited deals at many different stores.

Lavielle noted that the turnout Friday was better than a year ago, and customer flow was steady throughout the weekend. Both Kmart and Sears sold out a significant inventory of its flat-panel TVs. Other hot items were Global Positioning System receivers, game consoles like the hard-to-find Nintendo Wii, and digital cameras.

Toys "R" Us chairman and CEO Jerry Storch said the toy seller drew a strong turnout Friday for its 101 early morning specials. He said that he was pleased with traffic on Saturday and Sunday as well.

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