Credit card companies also posted favorable results. Visa posted a 15.5% year-over-year gain in sales of more than $4.1 billion. The growth was fueled by purchases at apparel, department, discount and home and garden stores, according to the company. MasterCard reported a 9.29% jump through Saturday night.
But news from the largest retailer in the world was not as bright. Wal-Mart predicted that its same-store sales would increase 0.7% for the month. The retailer had hoped for a 2% to 4% gain through the month. Most retailers will report their November sales results on Thursday.
Just over one-fourth of all adults shopped on Friday, according to a National Retail Federation report that surveyed about 4,700 people. The average consumer spent $265.15 on gifts this weekend, NRF says.
Most people, 61.8%, did their holiday shopping at discount department stores, followed by traditional department stores, at 44.3%, according to the NRF. Clothing was the best-selling item, with 49.1% of shoppers acquiring such items. Just over 45% bought books, CDs, DVDs, videos or video games.
For the holiday season as a whole, the NRF predicts a 4.5% sales increase over last year. Meanwhile, the International Council of Shopping Centers has forecasted a 3% to 4% jump in November and December sales from 2003.
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