28 Nov 2011

Record spending during Thanksgiving

5:44 pm on 28 November 2011

Americans have shrugged off economic gloom to post record holiday weekend sales.

Shoppers spent an estimated $US11.4 billion on pre-Christmas discount items during Thanksgiving holiday weekend; up 6.6% compared to last year.

Data shows that was the largest year-on-year gain in four years.

Macy's chief executive Terry Lundgren says Black Friday is an important day for retailers and a signal of what Christmas trading will bring.

Macy's has 810 stores across the United States. Mr Lundgren says same-store sales are up 5.3% so far this year, compared with 2010.