Stores cut prices, stay open longer

Shopping this weekend may account for 9% of all sales from Thanksgiving to Christmas, according to Michael Niemira, chief economist at the International Council of Shopping Centers.

Shoppers jammed stores to take advantage of half-off sales and extended hours at J.C. Penney, Sears and Toys “R” Us the final weekend before Christmas.

Retailers were counting on weekend sales to generate almost 10% of their sales for the gift-giving season, which the National Retail Federation said may be the slowest in five years.

“This season has been the year of the discount,” said Fred Crawford, managing director for Southfield, Mich.-based consultant AlixPartners.

J.C. Penney sold juniors sweaters with 50% discounts and winter coats at 60% off; Macy’s is offering special markdowns through the weekend; Sears offered women’s pajamas at half price.