Credit: Associated Press

 

 

Saddam Capture Could Boost Holiday Sales

By ANNE D'INNOCENZIO

AP Business Writer

 

 

With 11 days until Christmas, shoppers crowded the nation's malls and stores over the weekend, their spirits buoyed by news of Saddam Hussein's capture. But it was unclear whether stores met their sales goals.

 

Shoppers were out in force on Saturday, according to industry observers, though business dropped on Sunday for many stores, hampered by the second major snowstorm in the Northeast in a little more than a week.

 

Still, several experts said the news of Hussein's capture, revealed early Sunday, couldn't be a better holiday gift for merchants during the season's last, critical stretch.

 

"Ultimately, in the long run, this is going to put people in better spirits, and we are definitely excited that this has come during the holiday season," Ellen Tolley, a spokeswoman at the Washington-based National Retail Federation, said Sunday. "This is a piece of news that we were not expecting."

 

C. Britt Beemer, chairman of America's Research Group, in Charleston, S.C., believes Hussein's capture will result in improved consumer confidence that will translate "into bigger sales."

 

However, that remains to be seen.

 

Shoppers like Colleen Briggs, braving swirling snow while shopping Sunday at New York's Rockefeller Center, said they were pleased with the news, but it wouldn't make them open their wallets more.

 

"I'm glad they got him, but it's not going to make me spend more," Briggs said. The Tampa, Fla., resident, said she'll spend about $2,000 - the same amount as last year.

 

After the heavy snow Dec. 5-6 - which chilled business at many brick and mortar stores, but fueled online buying - executives were counting even more on a spending surge this past weekend to reverse lackluster sales. Last year, the second Saturday before Christmas was the third busiest day of the season.

 

Despite an economy on the rebound, consumers continue to be frugal, and seem to be waiting even later to do their holiday shopping than last year. While recent economic data have been cheery, analysts say consumers are still leery of a sluggish job market that remains a big factor for holiday spending.

 

"I held onto my job when everyone else was losing theirs and I feel like it's all coming back," said Jayne Huddleston, who was at the Galleria Mall in Dallas on Saturday, buying toys and sweaters for her young children. "I feel like our jobs are a bit more stable and neither one of us has been laid off. And if you can have your job, that's good."

 

Still, she plans to spend about $500 this holiday season, about the same as last year.

 

Martha Vadney, from Albany, N.Y., who was shopping at Bloomingdale's in Manhattan on Saturday, said she doesn't feel any more confident than a year ago. While she believes her husband's job is secure, the couple still hasn't recouped their stock market losses.

 

Karen MacDonald, a spokeswoman at Bloomfield Hills, Mich.-based Taubman Centers, which owns or manages 31 shopping centers in 13 states, said that sales were up mid to single digits at stores on Saturday from a year ago, but business was slow on Sunday because of snowy conditions.

 

Beemer said traffic and sales were healthy at a spot-check of 11 malls nationwide on Saturday.

 

NRF's Tolley said the Sunday snow shouldn't affect the overall weekend's business for retailers.

 

Major retailers, including Wal-Mart Stores Inc., and Target Corp. are expected to report their weekly results, including from this past weekend, on Monday.

 

Meanwhile, online sales have remained a bright spot this holiday season. Online sales, which exclude travel and auctions, were up 31 percent to $2.16 billion for the week ended Friday, according to comScore Networks Inc.

 

Matthew Muterspaugh, who was shopping at the CambridgeSide Galleria in Cambridge, Mass., said he bought more of his gifts online this holiday season than in the past, partly because he found better deals. He was picking up a few items on Saturday, including ski socks and a ballerina ornament.

 

Lois Denney, who was shopping at the Oakwood Shopping Center in New Orleans on Friday, also spent more online than in the past.

 

"We shopped online for the first time last year, and it worked out great," Denney said. "The best part is there's no wrapping."

 

___

 

Associated Press writers Theo Emery in Boston; Megan Reichgott in Chicago; Penny Cockerell in Dallas; and Stacey P. Jenkins in New Orleans contributed to this report.

 

 

 

 

 

"Hey honey! Saddam's capture has inspired me to shop crazy! I'm going to buy a $14,000 Plasma TV and a new $30,000 Lexus! Because I'm that happy!"

 

SPEND, SPEND, SPEND! BUY, BUY BUY! Because thats all we are people...CONSUMERS. ugh.

Are there really people out there waiting for a sign like this to go to ToysRUs?

Who knows? I bet there are morons out there, brainwashed morons.

:lol :lol :lol

omg when he wa s captured 1st thing i did was go Christmas shopping.. weird

I figuered that the capture of Saddam would coincide with Dubya's bid for re-election. Now, I have the added pleasure of knowing that I can go out and spend my hard earned cash joyously!?!?!?!

 

 

I guess they'll print anything in the papers these days......

 

 

Are there really people out there waiting for a sign like this to go to ToysRUs?

My English teacher told my class about this kid in another one of his classes who reads a lot on politics and such things and he said that the kid told him that dont be surprised when its closer to re election for Bush that Bin Laden is captured.

 

His theroy is that they have him already but are not releasing this information yet so it can give Bush a push for re-election.

 

Pretty far fetched in my opinion because I dont know how you can have such a wanted man captured an no one find out that is not supposed to and release it to the public but it is something to think about.

 

The kid also claimed that Saddam was already captured and they just released the info as they had just captured him for a boost in Bushs support.

 

All I know is politics are dirty and I wouldnt be surprised if this was true.

omg when he wa s captured 1st thing i did was go Christmas shopping.. weird

I hope you're being sarcastic...

no its true. just a coincidence tho ..

 

i think

I figuered that the capture of Saddam would coincide with Dubya's bid for re-election. Now, I have the added pleasure of knowing that I can go out and spend my hard earned cash joyously!?!?!?!

 

 

I guess they'll print anything in the papers these days......

 

 

Are there really people out there waiting for a sign like this to go to ToysRUs?

 

 

Pretty far fetched in my opinion because I dont know how you can have such a wanted man captured an no one find out that is not supposed to and release it to the public but it is something to think about.

 

Ding Ding Ding we have a winner. Don't listen to these people, they only thing they have going for them is a wild imagination and an opinion...and no shred of proof what so ever. To suggest that this was in the works is in one word, stupid.