US retailers enjoyed strong sales over the Thanksgiving period and are optimistic that trading will continue to be good for Christmas.
According to figures from the National Retail Federation (NRF), 71.8 per cent of consumers hit the shops over the Thanksgiving weekend.
NRF president Tracy Mullin said: 'Consumers were out in full force last weekend. With the economy in better shape and a little more money in consumers' pockets, we are hopeful the momentum continues throughout the holiday season.' The NRF expects Christmas sales to increase by 5.7 per cent to US$217.4 billion (£126.37 billion) this year.
However, Wal-Mart lost some steam. The retailer said that last Friday sales increased by 6.3 per cent to US$1.52 billion (£883.6 million), compared with 14.4 per cent growth on the equivalent day last year. According to consultancy Retail Forward, Christmas spending could be 'restrained'.
Some 49 per cent of households plan to spend more at discount stores this year than last.
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