More Americans are waiting to the end to shop for Christmas than any other time in the last 10 years. The consumer was never excited about anything that they saw this Christmas.

J.C. Penney will probably be the most promotional store this year, similar to last year, and they'll probably have a good Christmas because of it.

Overall, the moderate-priced stores such as J.C. Penney, Sears and Wal-Mart had good traffic levels. We think luxury sales were probably flat this past weekend because more people said they decided to go away on vacation before Christmas this year than last year. So this could have impacted spending on other high-end items.

There are a lot of wealthy income consumers that have given a lot of money to hurricane funds, and they're saying they're doing that in lieu of Christmas gifts,

I've never seen this many consumers not done with their Christmas shopping.

The success of GM's employee discount sale is a great example that consumers still are in a mood to buy. However, I think Christmas spending could be a little narrower than last year.

I'm worried right now that we could have the first negative Christmas selling season in two decades,

I don't think the day is the kind of day that retailers thought it would be. Christmas Eve is seldom the big day because of the fact that so many consumers ... want to be home.