Foreigners take advantage or holiday sales, weak dollar - WMC Action News 5 - Memphis, Tennessee

Foreigners take advantage or holiday sales, weak dollar

NEW YORK (AP) - Many shoppers go to great lengths to find Black Friday bargains, and some are even crossing the ocean this year.

A weak dollar is bringing in overseas visitors looking to take advantage of holiday weekend sales.

The dollar hit a new low against the euro today, while the British pound is valued at more than two dollars.

The CEO of toy store FAO Schwarz estimates foreigners will make up about one-third of customers at its flagship New York location this holiday season.

One European says he may spend $2,000 dollars or more on an American shopping spree. Another Northern Ireland resident says the effect of the weak dollar is, as he puts it, that "everything is half price for us."

(Copyright 2007 by The Associated Press.  All Rights Reserved.)

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