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Thinkpad (AXcess News) New York - Shoppers stood in line to enter retail
malls early Friday as black Friday, the day retailers begin
boosting year-end sales and profits, began. Retailers pulled out
the stops to draw shoppers, offering different gimmicks and
discounts during the start of the holiday shopping season.
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Microsoft Wal-Mart Stores (NYSE: WMT) reported packed stores as the
nation's no. 1 retail store opened its doors an hour early to
handle the crush of shoppers looking for a deal. The retailer
reported over 2 million shoppers in the first two hours this
morning.
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Laptop Computers Following the Thanksgiving holiday, Target Corp (Nasdaq: TGT)
was offering wakeup calls from Kermit the Frog to get shoppers into
its stores. SearsHolding Corp. (Nasdaq: SHLD) was offering holiday
shoppers $10 gift cards to the first 200 customers at each of its
more than 2,400 locations.
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Laptop Computer Wal-Mart's offering of cheap DVDs and Hewlett-Packard (NYSE:
HPQ) computers under $400 drew early holiday shoppers into its
stores nationwide. At Circuit City (NYSE: CC) stores in
Connecticut, holiday shoppers waited in line several hours to be
first in the stores to buy camcorders for $250 and laptop computers
for $300. Best Buy (NYSE: BBY) reported lines of holiday shoppers
as well and at one store in Orange Connecticut police had to be
called to keep shoppers from getting out of control as they waited
for the electronics retailer to open its doors.
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Desktop Computer Known as Black Friday, the day kicked off the holiday shopping
season when retailers chalk up a quarter of their annual sales.
Black Friday was the biggest sales day in 2003 and the
second-biggest last year.
Notebooks According to the National Retail Federation (NRF), last year,
shoppers spent $22.8 billion the weekend after Thanksgiving, and
current estimates indicate that consumers might spend even more
this year.
Lenovo "This will go down as one of the earliest and most promotional
Black Fridays in history," said NRF President and CEO Tracy Mullin.
"Many stores opened earlier than ever before and retailers offered
unbelievable sales and discounts to get people shopping."
Hard Drive The NRF continues to project an increase of 6.0 percent in
holiday sales this year over last year, bringing estimated revenues
of $439.5 billion this holiday season. Earlier this week, NRF
raised its holiday sales forecast for the first time in its history
from an earlier projection of five percent growth. The first
installment of the Consumer Intentions and Actions survey revealed
that consumers plan to spend $738.11 this year on holiday gifts,
decorations, cards, candy, and food.
Travelstar Mullin said that retailers were more aggressive in offering
steep discounts to pull holiday shoppers into their stories this
year compared to in the past. Though whether the trend will hold
throughout the holiday shopping season remains to be seen.
Gateway Consumers have been worried about higher energy costs for home
heating andelectricity, which utilities nationwide have raised
rates. Gasoline prices were about the only relief as the price of
gas fell on average 25 cents a gallon nationwide in the last month.
But discount tactics are what's working, as Mullin said, so now
it's up to retailers to continue offering holiday shoppers good
deals if they expect to hit the sales figures the NRF forecast.
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