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The traditionally bustling holiday shopping kickoff had little impact on November sales for several large retailers, as consumers continued to seek out discounts.
Department stores by far experienced the greatest losses, with Saks falling 25.1 percent to $245.1 million for the four weeks ended Nov. 28. Macy’s total sales dropped to $2.3 billion (down 6.3 percent), and same store sales fell 6.1 percent for the four weeks ended Nov. 29. Meanwhile, JC Penney was down 5.9
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