But soft sales aren't a reason to panic. "Historically, sales over the Thanksgiving weekend were a good leading indicator about the 'health; of the overall holiday season," Roth Capital Partners analyst Elizabeth Pierce wrote in a note. "However, over the past few years, as consumers have shopped closer to need, Thanksgiving weekend sales have diminished in terms of relative contribution to total holiday sales and, therefore, the weekend has not necessarily been the best predictor of the overall 'health' of the holiday season."
Retailers are now awaiting how consumers will shop today, on everybody's favorite new shopping day: Cyber Monday. "Cyber Monday," of course, refers to the Monday following Thanksgiving, when shoppers trawl Web sites to find online deals.
NRF expects 96.5 million Americans will shop on Cyber Monday, up from 85 million in 2008.As a result shares of Amazon (AMZN), and eBay (EBAY), are some of the only retailers in the green. Amazon is up 2.1% to $134.54, while eBay is growing 3.8% to $24.10. Over the weekend, Kohl's (KSS), already reported its site crashed due to a surge in traffic. Still, the question looms: Will shoppers keep coming back for more? And what happens once the holidays are over? -- Reported by Jeanine Poggi in New York Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV