Retailers opened earlier than ever on the day after Christmas on Wednesday and slashed prices with hopes of salvaging a holiday season that is falling short of already modest expectations.

Merchants are trying to lure post-Christmas bargain hunters and gift-card splurgers that could provide a much needed boost during this crucial period. Gift card sales, which have been growing in recent years, are not recorded until shoppers redeem them.

The International Council of Shopping Centers said same-store sales, or sales at stores opened at least a year during the November-December period, appear to be coming in just below already slim projections for a 2.5 percent gain, though it said that a post-Christmas buying bump could erase that shortfall.

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