Summary Box: Black Friday frenzy |
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Fri, 23 Nov 2007 22:33
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(AP) - WHAT HAPPENED: Shoppers, who had pulled back their spending in recent months, packed malls and stores for big discounts on the day after Thanksgiving, the official start to the holiday season.WHAT DOES IT MEAN: Consumers, worried about rising gas and food prices and a slumping housing market, seem to be focusing on bargains. Discounters like Wal-Mart Stores Inc. and mainstream stores like Macy's and J.C. Penney Co., which made a lot of discounting noise, pulled in the crowds, but those that offered less generous deals had less traffic, experts say.WHAT'S NEXT: Thanksgiving weekend only accounts for about 10 percent of holiday sales. The true test will be how shoppers behave in the weeks leading up to Dec. 25.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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