But not all retailers partook in the spending festivities, and that puts their investors at risk.
Based on a walk-through of close to 30 stores in the New York area over the weekend, some of the companies that should be most concerned are Coach (COH) , Mattel (MAT) and Abercrombie & Fitch (ANF) . So why should they be worried with just three shopping days left before Christmas?
1. Coach Handbags Are Ignored by Women at Department Stores
Coach ended Super Saturday weekend the same way it began the shopping season on Black Friday -- by discounting heavily at department stores. The handbag maker is attempting to regain its cool factor with trendier styles from new designer Stuart Vevers, which began to appear in malls last September.
Coach had most of its styles at Lord & Taylor on sale for 40% off. Clearance tables with Coach handbags were also spotted there. At Macy's (M) , Coach handbags were being discounted as buy one, get one 50% off.
A Macy's spokesman declined to comment on Coach or sales trends on Super Saturday weekend, saying it's in its quiet period ahead of the fourth-quarter earnings report.
The big discounts on Coach highlight what was a very disappointing start to selling its goods at department stores in its new fiscal year. In the first fiscal quarter, sales for Coach products at department stores dropped by a "mid-teens" percentage. Coach's merchandise is sold in about 1,000 department store locations in the U.S. and Canada.
Sluggish sales at major department stores in the first quarter -- and perhaps the whole holiday season -- come as Coach remodels its shops to include flashier signs, lighting and racks. By the end of the first quarter, Coach had completed 140 of these remodeling projects at department stores, with a goal to touch up over 300 locations over the next nine months.
Coach shares have popped 3% in the past month on speculation that LVMH's (LVMUY) Louis Vuitton had interest in a buyout. But Coach's probably rocky holiday season sets up investors hoping for a buyout to be disappointed when earnings and guidance are released at the end of January. Coach expects a low double-digit percentage decline in sales for fiscal year 2015, along with gross margins in a range of 69% to 70%.