Retailers report strong sales in Nov.

Oh what a difference a weekend can make.

Shoppers taking advantage of big discounts and earlier store hours during the start of the holiday shopping season last weekend helped boost retailers' revenue for the entire month of November.

Retailers from Macy's to Costco Thursday reported monthly revenue at stores open at least a year -- an indicator of a merchant's health -- that beat Wall Street estimates. The overall tally for the 21 retailers that reported revenue for November rose 3.2 percent, according to the International Council of Shopping Centers.

November results offer an important benchmark; during the holiday shopping season, merchants can make up to 40 percent of their annual revenue.

Americans spent $52.4 billion over the four days starting on Thanksgiving Day, the highest total ever recorded during that time, according to the National Retail Federation. But they were lured in by deep discounts.

"Clearly, consumers are focused on those bargains," said ICSC chief economist Mike Niemira. "It's a bit tougher to get shoppers to buy from a year ago."

The November figures represent only a small slice of the retail industry. Dollar stores, home-improvement chains like Home Depot, consumer electronics stores like Best Buy and even giant retailer Walmart don't report monthly revenue.

Still, retailers can glean a lot from the numbers.

For instance, well-heeled shoppers continue to be resilient in the weak economy. Luxury chain Saks Inc., which operates Saks Fifth Avenue, reported a 9.3 percent increase. Macy's, which operates Macy's and upscale Bloomingdale's, also posted a 4.8 percent gain.

But retailers targeting lower and middle-income shoppers face an uphill battle to get shoppers to spend.

"The lower-income shoppers are postponing their purchases or were cherry-picking the deals," said Walter Loeb, a Manhattan-based independent retail consultant. Target posted a 1.8 percent increase.