Retailers pin hopes on post-holiday sales

ASSOCIATED PRESS
Shoppers descended on stores and malls today in a search for post-Christmas bargains as retailers slashed prices, hoping to recoup business in a season that will likely to turn out to be only modestly better than a year ago.
Retailers are counting even more heavily on the week after Christmas to meet their sales goals, as two consecutive snow storms in the Northeast, a lack of must-have items, a sluggish job market and few early bargains dampened the pre-holiday shopping season.
By 6:30 a.m., shoppers were already lining up outside a Target store in Columbus. By the time the store opened a half-hour later, about 100 people were at the entrances.
"You've got to move fast. That's why I'm wearing tennis shoes," said Christine Best, 33, of the Columbus suburb of Delaware. "They slash prices on everything Christmasy. I'm headed straight for the wrapping paper."
Best said she buys holiday gifts the day after Christmas and tucks them away for the following year.
High-end stores such as Neiman Marcus and Nordstrom have enjoyed robust sales this holiday season, while mid-priced department stores have fared the worst. Even discounters like Wal-Mart Stores Inc. have struggled with muted sales gains, as lower-income consumers still haven't benefited from the economic recovery.