Shoppers ‘too little, too late’ to save season

According to ShopperTrak RCT Corp., a research company that tracks total sales at more than 50,000 retail outlets, business for the week ended Saturday slipped 0.4 percent compared to the same week in 2006. Total U.S. traffic for the same period slumped 8.9 percent from a year ago.

The apparel market was hit even harder because there was nothing new that wowed shoppers. The new style — cropped jackets with bell sleeves — failed to generate a lot of buzz, says research analyst Jennifer Black.

Hess estimated that discounts at department stores are about 10 percent to 15 percent higher than a year ago, a worrisome sign for profits. Price-cutting at specialty clothing stores, which had better control of their inventories, were at the same level as a year ago.

Slater said that he estimates that large department stores are missing their sales plan by as much as 10 percent so far in December.

Slater noted that even gift card sales have been disappointing; in some cases, the gift card business may be "even down," based on spot checks with retailers. Gift card sales have been a

INTERACTIVE Shop 'til you drop Our cartoonists take a look at the 2007 holiday shopping frenzy.

bright spot in recent years though they mute pre-Christmas business because sales are not recorded until recipients redeem them.

The toy industry is expected to match last year's sales, at best. In addition to a challenging economy, the industry was hurt by a slew of recalls of Chinese-made products that made some shoppers cautious.

Online retailers, which have had an uneven season, are ending with a strong finish. According to comScore Inc., consumers spent almost $25 billion online from Nov. 1 through Dec. 18, a 19 percent increase, though a bit below its 20 percent forecast.

While it's hard to discern how much of the discounting in the final hours is unplanned, stores are clearly slashing prices to eke out sales wherever they can. Toys "R" Us stores are staying open till midnight every night until Christmas Eve. Beginning Friday at 7 a.m., several of Macy's stores in the New York metropolitan area, including its flagship store in Manhattan, won't close until 6 p.m. on Christmas Eve.

At Macy's Herald Square store, the entire inventory seemed to be on sale. Plenty of women's career apparel was discounted by 50 percent, for example.

"I usually do all my shopping on Black Friday. But I missed it. So I waited for the deals," said Goednee Coteland, of Manhattan, who was leaving Macy's Herald Square store Thursday night carrying bags of clothing marked down 50 percent.