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NEW YORK (AP) — Stores are hoping Americans who’ve been tight-fisted with their money will get the last-minute itch to buy in the final week of the holiday shopping season.
After a strong start to the season, sales at stores have fallen for three consecutive weeks. That puts a lot of pressure on retailers to get shoppers into stores in the final days of what’s typically the busiest shopping period of the year.
Sales at U.S. stores dropped 3.1 percent to $42.7 billion for the week that ended on Sunday compared with the same week last year, according to ShopperTrak, which tracks data at 40,000 locations. That follows a decline of 2.9 percent and 0.8 percent during the first and second weeks of the month, respectively.
The numbers, which don’t include online sales, are another challenge in what has largely turned out to be a disappointing holiday shopping season for stores. The two-month period that begins on Nov. 1 is important for retailers because they can make up to 40 percent of their annual sales during that time.
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