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Retailers usher in holiday season Original Source Link: (May no longer be active)
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Retailers Usher in the Holiday Season
Nov 26, 8:03 AM (ET)
By ANNE D'INNOCENZIO
Bargain shoppers, many of them braving chilly temperatures, woke up before dawn to head for the nation's malls and stores Friday, the official beginning of the holiday shopping season, hoping to take advantage of early bird specials on a range of items from toys to TV sets.
In an improving though still challenging economy, merchants are hoping the crowds will keep coming throughout the season.
At a Wal-Mart store in Bismarck, N.C., whose attractions included 24-inch flat screen Symphonic TV sets for $139.92, there were about a hundred people waiting in line outside the store by 4:30 a.m., half hour before the opening.
"I got here about 3:30 a.m. I didn't get much sleep at all, " said Lorie Ennen of Bismarck, N.C., who was the first in line, and saved spots for several family members. "We've been in the top five for about a decade."
Ennen was heading to the toy aisles first. "From there, we'll just keep buying," she said.
Crystal Rhoades of Wake Forest, N.C., stood in front of Hudson Belk department store at Triangle Town Center with Darlene Hackney of Creedmoor in temperatures hovering around 33 degrees.
Rhoades says it's her second or third time taking advantage of the early opening for the after-Thanksgiving sales.
"Since I had to go to work today, I figured I'd come in here before I go to work," she added. "So I've got until 7 o'clock to find a deal. After that, I'm out of here. I've got to be at work by 8 o'clock."
Rhoades had a short list until she spoke to Hackney.
"Sears has a DVD player for $19.99, so that's what I came out here to get. But since she told me about the bracelet and the earrings, I'm going to get one of those, too," she said.
At least two chains - J.C. Penney Co. Inc. and Sears, Roebuck and Co. - opened their doors on Friday anywhere from 30 minutes to an hour earlier than a year ago to grab a bigger share of consumers' dollars. Sears opened at 6 a.m. instead of 7 a.m., and is offering three times as many deals than a year ago. Penney had a 5:30 a.m. opening, instead of 6 a.m. on what is known as Black Friday.
Struggling toy chain KB Toys Inc., which sought Chapter 11 bankruptcy protection in January, opened its doors at 5 a.m. again this year, but some stores opened about a half hour earlier. The retailer is also running the early bird specials all day long instead of having them end at noon.
Taubman Centers Inc. (TCO), which owns or manages 22 shopping centers nationwide, including upscale N.J.'s upscale Short Hills Mall, is hoping to lure early bird shoppers with free food and drinks - plus pep rallies, complete with high school cheerleaders and a disc jockey.
"We believe that if we can win the day after Thanksgiving, then the momentum will build throughout the season," said Chris Brathwaite, a Sears spokesman.
Some of the early bird specials at Sears were $4.99 Barbie dolls, reduced from $9.99; $99.99 Fiesta gas grills, marked down from $179.99; and $29.99 heavy weight hooded jackets by the U.S. Polo Association, reduced from $100.
Still, most of the nation's retailers are not panicking - not just yet anyway, according to John Morris, an analyst at Harris Nesbitt. They're just trying to drive as much traffic earlier in the season, he said. In fact, discounting for the mall-based apparel retailers he follows is 5 percent below what it was a year ago.
Retailers' spirits have improved in recent weeks as falling fuel prices and job gains revived consumer spending momentum that slowed in the summer. But many shoppers, particularly those with limited disposable income, are saying they will be cautious. Fuel prices remain high, and the job market is still volatile.
The Washington-based National Retail Federation projects that total sales, after restaurant and auto sales are excluded, will increase 4.5 percent for the November-December period. That would be less than the 5.1 percent gain of a year earlier.
Michael Niemira, chief economist at the International Council of Shopping Centers, predicts a "pretty good Christmas," estimating that sales at stores opened at least a year for the November-December period will be up anywhere from 3 percent to 4 percent. That compares to a 4 percent rise a year ago.
Retailers' efforts last year to get shoppers to buy early paid off.
During the 2003 holiday shopping season, the busiest day was the Friday after Thanksgiving, instead of the last Saturday before Christmas, which was the second busiest day, according to the International Council of Shopping Centers. That reversed a trend seen over the last ten years, when the busiest day was the Saturday before Christmas, according to Mike Niemira, chief economist at the industry group.
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