Retailers report strong sales in November

Associated Press

NEW YORK

Oh what a difference a weekend can make.

Shoppers taking advantage of big discounts and earlier store hours during the start of the holiday shopping season last weekend helped boost retailers’ revenue for the entire month of November.

Retailers from Macy’s to Costco on Thursday reported monthly revenue at stores open at least a year — an indicator of a merchant’s health — that beat Wall Street estimates. The overall tally for the 21 retailers that reported revenue for November rose 3.2 percent, according to the International Council of Shopping Centers.

November results offer an important benchmark for retailers and economists. During the holiday shopping season, merchants can make up to 40 percent of their annual revenue.

The monthly numbers were boosted by the four-day weekend starting Thanksgiving Day, the traditional kickoff the shopping season. Americans spent $52.4 billion over the weekend, the highest total ever recorded during that time, according to the National Retail Federation. But they were lured in by earlier store hours and deep discounts.