Dec. 25 (Bloomberg) -- U.S. retail sales rose 23 percent on the weekend before Christmas as consumers swarmed stores for last-minute gift shopping.

Dec. 23 was probably the second biggest shopping day of the year, with sales of about $8.72 billion, research firm ShopperTrak RCT Corp. said yesterday. Sales for Dec. 22 and Dec. 23 combined were 22.5 percent over a year ago, the Chicago-based research company said.

The surge may help retailers meet a forecast for a 5 percent sales gain this holiday season. That would be the slowest pace since 2002, though still exceeding the 4.6 percent average of the past 10 years, according to National Retail Federation data.

``The total dollars spent indicate a very strong close to the holiday shopping season,'' said ShopperTrak co-founder Bill Martin. ``Retailers should be very pleased with this last-minute sales boost.''

The firm measures foot traffic in shopping centers and malls using more than 45,000 video devices. ShopperTrak doesn't include Wal-Mart Stores Inc., the world's largest retailer, which has been struggling to boost sales.

The biggest shopping day of the year was the day after Thanksgiving, when consumers spent $8.96 billion, according to ShopperTrak.

Customer traffic at Taubman Centers Inc. malls on Dec. 23 increased more than 10 percent at some locations, with merchandise selling at full prices, according to a round-up of mall reports e-mailed yesterday by spokeswoman Karen MacDonald.

A number of Taubman's 23 malls reported an increase in male shoppers. Gift card sales rose in the ``double digits'' at several, and sales of jewelry, handbags, electronics, perfume and cosmetics gained. Two malls said sales of coats and jackets suffered because of mild temperatures.

More Shopping Days

As Christmas comes on a Monday, shoppers had an extra weekend day to shop compared with last year and a reason to delay their purchases, said Mike Niemira, chief economist of the International Council of Shopping Centers.

At the Watertown Mall in Watertown, Massachusetts, Jeff Abellard, a 26-year-old real estate investor, said this weekend he was doing last-minute shopping. He purchased an iPod FM transmitter and some Gap Inc. gift certificates, estimating he would spend $2,000, which is less than last year.

``It just seems like it is tighter this year, so nothing extravagant,'' Abellard said.

`Spending Much More'

On Fifth Avenue in New York Dec. 23, Nicholas Toms, a 58- year-old software executive, said he had just purchased an American Girl Place doll and perfume at Saks Inc.'s Saks Fifth Avenue. He planned to buy jewelry at Tiffany & Co.'s.

``In dollars, yes, I'm spending much more,'' Toms said.

The National Retail Federation expects retail sales to rise 5 percent in November and December combined. The increase is less than the 6.1 percent gain of a year earlier.

Holiday spending will total $457.4 billion in November and December combined, the Washington-based NRF said. About 32 percent of the retail industry's profit and 27 percent of sales came in the last quarter of 2005, according to the ICSC, a New York-based trade group that tracks about 75 chains.

Sales at stores open more than a year were headed for an increase of 2.5 percent to 3 percent for November and December, Niemira said. Last year, they rose 3.6 percent.

Discounters are challenged by their dependence on the low- income consumer, and recent warm weather has discouraged purchases of coats at apparel chains, said Arun Daniel, a New York-based analyst with ING Investments LLC, said Dec. 21. The firm manages $40 billion.

Little Change

The Standard & Poor's 500 Retailing Index, which includes 29 companies, is little changed since Oct. 31, trailing the benchmark's gain of 2.4 percent. Wal-Mart shares have slumped 7.6 percent, while Federated Department Stores Inc. has lost 13 percent.

Wal-Mart, the world's largest retailer, expects December comparable-store sales to rise as much as 1 percent, which would be the smallest gain since 2000.

Bentonville, Arkansas-based Wal-Mart on Dec. 22 was offering discounts including 37-inch flat-screen TVs for $997, down from $1,297.

Minneapolis-based Target Corp., the second-largest discounter, said last week that December sales at stores open at least a year will be within its forecast for a gain of 3.5 percent to 5.5 percent.

San Francisco-based Gap was slashing prices about 50 percent for cropped leather jackets and long ``puffer'' coats. AnnTaylor Stores Corp. of New York was promoting 60 percent discounts on sweaters and cold weather accessories, and 50 percent off outerwear. Saks Fifth Avenue was offering furs half- price.

Card sales will jump about a third this holiday from a year ago, the NRF has said. Consumers may increase their average gift-card spending to $116.50 from $88.

To contact the reporter on this story: Cotten Timberlake in New York at ctimberlake@bloomberg.net

Last Updated: December 25, 2006 02:16 EST