(AP) ShopperTrak, which analyzes customer traffic at U.S. stores, says it's cutting its holiday sales forecast as shopping has limped along since the Thanksgiving weekend buying frenzy.
ShopperTrak, based in Chicago, said that it now expects holiday sales to be up 2.5 percent, down from the projected 3.3 percent.
That compares with a 3.7 percent increase a year ago.
We were hoping that this past Saturday would be the kick off to good things to come. But it feels like the steam is out of the holiday since Black Friday, said Bill Martin, co-founder of ShopperTrak.
The November-December period accounts for as much as 40 percent of retailers' annual sales.