Stores, which have had modest sales gains so far this holiday season, were hoping for a big surge this past weekend.

Sales were generally strong Friday and Saturday, but a second consecutive weekend of snow in the Northeast, which hit Sunday, put many merchants behind again. Now the pressure is on to make their forecasts.

Wal-Mart Stores Inc., the world's largest retailer, tempered its holiday outlook yesterday, saying that same-store sales growth is now tracking at the low end of its 3 percent to 5 percent range. Sales at stores opened at least a year, known as same-store sales, are considered the best indicator of a retailer's strength.

Wal-mart said foot traffic was down for the week ended Friday from a year ago and customers are still buying the lowest priced merchandise. The Little Rock-based company cited the trend toward delayed holiday shopping, and the popularity of gift cards, whose sales are only recorded when redeemed, for slow sales.

Target Corp., and Sears, Roebuck and Co., said sales were below forecasts. Sears spokesman Larry Costello hinted more discounts were coming: "We are going to continue to be competitive with our promotions."

Taubman Centers, which owns and manages 31 shopping centers in 13 states, reported a gain of 3 percent to 6 percent so far this season, based on a sampling of stores. For the week ended Sunday, malls, excluding those in New Jersey and Connecticut, were up mid-single digits.

"We're probably still on track for a good season, though business has been uneven with the weather," said Michael P. Niemira, who yesterday joined the International Council of Shopping Centers as chief economist and director of research. He had been vice president of Bank of Tokyo-Mitsubishi Ltd.

Niemira is still sticking to his same-stores sales forecast of a 4 percent gain for the combined November and December months.

Luxury retailers, like Neiman Marcus, have done well, but many stores in the middle have struggled.

C. Britt Beemer, chairman of America's Research Group, in Charleston, S.C., said the big problem has been the lack of big discounts available.

"If retailers don't have those 50 percent discounts, we are going to see more and more consumers who are going to buy fewer items or less expensive items," he added.

Some stores relent

Many retailers — particularly department and clothing stores — have been holding off on aggressive discounting, hoping consumers will pay regular price. But some major retailers like Chicago-based Sears have given in, and added extra sales this past weekend, hoping to fuel business.

Meanwhile, K-B Toys began its second wave of discounts yesterday, cutting prices by 25 percent on some 200 different toy products and 50 percent off train sets and select other items.

Bargain-hungry consumers like Sandy Morris haven't been satisfied.

"Yes, there are a lot of deals if you're willing to look for them," said Morris, who was shopping on Chicago's Michigan Avenue this past weekend. "You have to be willing to walk a lot to find them though."

She added, "I haven't bought anything yet, but I'm looking at DVD players, and I don't want to pay more than $75 for one. I think I can get a cheaper one at Target."

No must-have item

With increasing evidence that the economy was rebounding, merchants had high hopes that the season was going to wind up a lot healthier than a year ago.

But sales were mixed over Thanksgiving weekend, the traditional opening of the holiday season, and business has been modest ever since.

The lack of a must-have item this season also hurts sales and traffic, though cashmere sweaters, pastel or monogrammed goods and electronics like plasma TVs and DVD players have been very popular. Hot toys running low on many retailers' shelves include Hokey Pokey Elmo and Bratz dolls.

Still, consumers remain frugal as worries loom about job security. While unemployment has ticked down to 5.9 percent, the creation of jobs has lagged.

Last-minute push

Whether consumers have a lot of disposable income or not, stores are finding it's hard to break them of their habit of waiting until they get the best deal.

Last year, the seven days before Christmas accounted for 41 percent of holiday sales, up from 34 percent in 2001, according to the International Council of Shopping Centers. In 2000, 30.9 percent of holiday sales accounted for that period.

According to the association's survey, conducted from Thursday to Sunday, 23 percent of the 1,000 adults surveyed said they have not started their holiday shopping.

Still, retailers warn, there are risks to waiting.