Retailers get solid start on season

The Thanksgiving weekend gave the nation's retailers a solid start to the holiday season, but stores that expected shoppers to have less interest in bargain-hunting were disappointed.

Wal-Mart Stores Inc. and other discounters had the strongest sales, attracting crowds with specials on TVs, DVD players and toys. Department stores and mall-based apparel retailers were discounting less than they did last year, and their business was uneven.

"Sales appear to be better than last year, but the consumer is still value-oriented and is looking for sales," said Walter Loeb, who runs his own New York-based retail consulting firm.

A dozen people were standing in line Sunday morning at a Best Buy in Dunwoody, Ga., a suburb of Atlanta, waiting for doors to open at 10 a.m. Like many shoppers, Charles and Susan Lynch were willing to spend but hoping to get a good deal.

"I was unemployed this time last year so my economic situation has greatly improved," said Charles Lynch, who was looking for a home theater system.

Regina Elias, shopping for discounted Bratz dolls Sunday at a K-B Toys store in Manhattan, said she was feeling "a little better than last year" about her finances.

"I'm working a lot of overtime," said Elias, of Bayonne, N.J. But she said she plans to spend the same as last year, about $1,000.

Michael P. Niemira, a retail industry analyst with Bank of Tokyo-Mitsubishi Ltd., said of the weekend, "It was pretty good, but it wasn't spectacular." He said business was stronger for discounters than it was for department stores and apparel merchants.

Although the economy is recovering and consumer confidence is on the rise, a shopper's own job security is often the greatest factor in how much he or she spends.

"I'm enjoying shopping this year," said Jane Howard, of Melrose, Mass., shopping at a Cambridge mall with her daughter Sunday. "I feel like I've got enough money. I'm very happy because I've been in my job for a year."

Total retail sales Friday were up 4.8 percent to $7.2 billion from the Friday after Thanksgiving a year ago, according to ShopperTrak, which tallies sales at 30,000 retail outlets. Last year's sales had been 6.8 percent higher than 2001 results.

For Friday and Saturday combined, total sales were up about 5.5 percent, according to Niemira, a consultant with ShopperTrak.