May 26, 2013

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Reporter: By Parija Kavilanz, CNN senior writer

Strong Kickoff to Holiday Shopping Season

The Associated Press
With nary room to move, shoppers cram the aisles at Toys R Us in Santa Rosa, Calif., at 10 p.m. on Thanksgiving, getting a jump on retailers much-anticipated Black Friday.

NEW YORK (CNNMoney.com) -- Retail sales were solidly higher in November, the government reported Thursday, fueled in part by deep discounting on holiday merchandise.

The Commerce Department said total retail sales rose 0.8% last month.

Economists surveyed by Briefing.com on average had forecast an increase of 0.5% for November.

Sales excluding autos and auto parts rose 1.2%. Economists had forecast a rise of 0.6% in the measure for November, according to Briefing.com.

November's gain marked the fifth straight monthly gain in the measure, an encouraging sign that, despite a tight job market, consumers are becoming more comfortable with spending on discretionary purchases.

For retailers, November also marks the start of the year-end holiday shopping frenzy. Combined sales in November and December can account for as much as 50% of merchants' sales and profits for the full year.

Holiday sales this year got off to a robust start. Earlier this month, many large store chains also reported much better-than-expected monthly sales at their stores.

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