Christmas failed to lift weak US consumer spending figures, and retailers have little hope of a last-minute recovery in the final week of the fourth quarter.

The increasing popularity of gift vouchers in the US has left shopowners with some hope for the last week of the year, but there is no real indication that a spending spree will lift performance.

Retailers record sales from purchases made with vouchers when they are redeemed.

The weekend before Christmas, which typically includes the busiest shopping day of the year, did little to alleviate concerns that holiday spending would come up short of expectations.

"Based on our channel checks, shoppers were out and they were buying, but not at the level we had expected, especially at many of the apparel driven retailers," Roth Capital Partners analyst Elizabeth Pierce wrote in a note to clients.

Final December sales figures will not be released until next week, but clothing stores appeared to be among the biggest disappointments in the vital Thanksgiving-to-Christmas holiday season. Some chains have already slashed prices in a last-ditch effort to tempt shoppers.

That could put pressure on fourth-quarter profits.

December is the biggest earnings driver in the period, which for most retailers ends in January. - (Reuters)