Retailers express optimism

Besides sailing the ocean blue in 1492, Christopher Columbus has long been associated with three-day weekends and mall bargains.

But with an economic crisis dragging down stocks and tightening credit markets over the last few weeks, most average consumers probably did not go into Monday's holiday before the holidays with loose wallets.

If last month's numbers are any indicator, this slump could continue into the most important time of the year for retail businesses. An international trade group reported soft retail sales in September among major U.S. chains, and local shoppers are saying they will likely monitor their spending as December nears.