P.M. Briefing : Stores Hope to Gain Luster Lost in Slow-Moving Holiday Season

Shopkeepers across the country looked for bargain-hunting buyers today, hoping to clear out slow-moving holiday merchandise that made this a lackluster season.

Today is traditionally one of the busiest shopping days of the year, as hordes descend to return gifts and comb aisles for after-Christmas deals.

“Generally, I think retailers would be quite pleased if their sales matched what they were a year ago,” said David A. Williamson, a retail analyst for the Advest Group Inc., an investment research company in Hartford, Conn.

“Profits (from pre-Christmas sales) will be at least 10% below a year ago,” he said. “Consumers were very tight with their dollars. Retailers had to be very promotional just to get customers into the stores, let alone buy stuff.”

Prospects for a reversal of the lackluster holiday shopping season were slight, with much of the country mired in economic recession, but buyers who take advantage of steep markdowns on Christmas cards, decorations and wrapping paper might help ease storekeepers’ pain somewhat.