START OF HOLIDAY BUYING DEFINITELY NOT A TURKEY.Byline: Candice Choi Staff Writer Swarms of shoppers descended on malls and discount stores over the Thanksgiving holiday weekend to kick off the season with a mad grab at everything from electronics to clothes to music, retailers reported Monday. The $22.8 billion that retailers rang up at cash registers nationally is just the beginning of what looks to be a very merry holiday. ``From now until Christmas, every weekend is going to be a big one,'' said Scott Krugman, spokesman for the National Retail Federation. From the Glendale Galleria The Glendale Galleria is a large 3 story regional shopping mall located in Glendale, Los Angeles County, California. It is the second largest mall in Los Angeles County. It is located in Downtown Glendale. to Westfield Shoppingtown Topanga, malls reported growing throngs of shoppers compared with past years. Consumers are expected to continue splurging on popular items such as DVD players and iPods for a total of $220 billion this season, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the NRF NRF National Retail Federation NRF NATO Response Force NRF National Research Foundation (South Africa) NRF Neighbourhood Renewal Fund (urban renewal funding package in the UK) NRF Nouvelle Revue Française , a 4.5 percent increase from last year. Electronics in particular are flying off the shelves, with Sears stocking up on DVD players and select Wal-Mart stores selling out of hot items such as VideoNow, a portable DVD player A handheld device with a built-in DVD drive and flip-over lid that contains a screen, typically 6" to 10" in size. It may support rear seat passenger viewing, in which case the unit is hung upside down from the back of the front seat head rest, and a switch flips screen content 180 . ``The doll era was about three years ago. Now (my daughter) wants a PlayStation 2,'' said Bill Betancourt, a Woodland Hills resident. Digital cameras, MP3 players and flat-panel TVs are among the most- sought-after items at the Best Buy in Woodland Hills, said manager Michael Kugel Michael Kugel is one of the exceptional contemporary virtuoso viola players. He was born in Kharkov, USSR born (December 5th, 1946). He studied at the Beethoven School of Music, at the Music College in Kharkov and later at the Leningrad (St-Petersburg) Conservatory. . Woodland Hills resident Jo Lascurain was looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. the best deal on MP3 players for her 13-year-old daughter. She also recently purchased a camera phone and computer gear for her daughter. Even with the strong turnout this weekend, an NRF survey found that only one in 12 consumers say they've completed their holiday shopping. Analysts say that portends a strong holiday season. Even Monday's announcement by Wal-Mart Stores Inc. lowering its November sales forecast Sales forecast A key input to a firm's financial planning process. External sales forecasts are based on historical experience, statistical analysis, and consideration of various macroeconomic factors. from a range of 2 percent to 4 percent down to just 0.7 percent isn't dampening expectations. The news from Wal-Mart comes as no surprise considering the shift in recent months to high-end retailers such as Nordstrom and Neiman Marcus Neiman Marcus U.S. department-store chain. It was founded in Dallas, Texas, in 1907 by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband, A.L. Neiman. , said Jack Kyser, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the with the Los Angeles County Economic Development Corp. High gas prices are hampering the spending power The power of legislatures to tax and spend. Spending power is conferred to state and federal legislatures through their constitution. Judicial Review of legislative spending varies from state to state, but the law of federal spending informs courts in all states. of bargain hunters, Kyser said, while those with higher incomes are continuing to spend on pricier goods. Wal-Mart could also be ``feeling some heat'' from competitors such as Target, Kyser said. ``I went inside the Target the other day and it was light, bright and pleasant - a complete 180 degrees from a Wal-Mart,'' he said. The outlook is especially sunny for Southern California, where a growing population and warmer climates are fueling holiday sales. ``What I saw Friday was a gangbuster gang·bus·ter n. Slang A law enforcement officer who works to break up organized criminal groups. adj. also gangbusters Extremely successful: day,'' said Kyser, who visited malls across the Valley throughout the weekend. ``Malls are reporting significantly higher traffic than in the past. (Black Friday Black Friday, Sept. 24, 1869, in U.S. history, day of financial panic. In 1869 a small group of American financial speculators, including Jay Gould and James Fisk, sought the support of federal officials of the Grant administration in a drive to corner the gold ) is becoming an event in its own right.'' By 7 a.m. Friday, half the parking spaces at the Glendale Galleria were filled, said Janet LeFavre, the mall's general manager. That's about three hours earlier than in 2003. Even on Saturday and Sunday, Kyser said he noticed mall parking lots were filling up. ``We can't let the first weekend determine the holiday season, but it's always good to have a strong start - and that's exactly what we got,'' Krugman said. A survey by the NRF found 133 million shoppers trekked to malls this weekend, with the average shopper spending $265.15. Black Friday - the day after Thanksgiving when many retailers turn a profit for the year - brought out the most bargain hunters, with 64.6 percent of shoppers heading out that day, compared with 54 percent Saturday and 25 percent Sunday. About 9 million got a head start by heading out on Thanksgiving Day. Online retailers logged a solid weekend as well, with about 29.3 percent of shoppers making purchases. Although the next biggest spree will come on the weekend right before Christmas, Krugman predicted that retailers will be swamped for the next several weeks. ``This is a marathon, not a sprint.'' Candice Choi, (818) 713-3634 candice.choi(at)dailynews.com CAPTION(S): photo Photo: (color) Randy Lam compares the features on different digital cameras - a top Christmas gift this year - as he compiles his wish list at Best Buy in Woodland Hills on Monday. Gus Ruelas/Staff Photographer |
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