We didn't shop 'til we dropped

Santa's sleigh was lighter this year, retail watchers say.

As the talleys roll in, it looks like winter holiday sales might rise less than expected -- increasing only 2.5 percent to 3 percent, rather than the 5 percent initially forecast.

So who's the Grinch? Analysts point to warm weather in the east, which melted coat sales, plus a blizzard in Denver, which froze out shoppers who left the bulk of their buying until the last few days before Christmas. Other factors include higher prices for gas and home heating, plus a sagging housing market in which homeowners no longer feel flush.

I blame gift cards, which aren't tabulated until they are redeemed.

Personally, I'd rather tear into a gaily wrapped package than a slim envelope. But I have to confess that lots of folks welcome gift cards -- which is why I zipped to Aeropostale to buy cards for my daughter and four of my nephews, who I felt certain would rather choose their own clothes than leave it up to a middle-age woman who still believes Audrey Hepburn was the best dresser ever.