Wal-Mart says yes:
The holiday shopping season began with a surge in spending but consumers faded by the long Thanksgiving weekend’s close and many retailers were facing decent but hardly impressive sales.
Big chains including J.C. Penney Co. Inc. and Sears, Roebuck and Co. were pleased with their sales. But Wal-Mart Stores Inc. was less fortunate — the industry leader said its sales in the seven days that ended Friday were disappointing, and the company lowered its sales forecasts for November. The holiday shopping season traditonally begins the day after Thanksgiving.
Alternative title: Is That a Lump of Coal in Your Stocking or Are You Just Happy to See Me?