While mostly robust Black Friday sales had the holiday shopping season off to an optimistic start, mixed November retail-sales figures released today suggest that some segments of the market might not receive the Christmas cheer that they want.

First, the bad news: Rising energy prices and an ailing housing market continue to take a bite out of consumer spending, with midrange retailers hit hardest by belt-tightening on discretionary spending.

J.C. Penney's 2.6 percent gain in same-store sales, or sales at stores opened at least a year, failed to match expectations.

The Gap outdid expectations with unchanged sales results, buoyed by Banana Republic and international stores.

Limited Brands fared among the worst, with a 7 percent decline in same-store sales, while Wet Seal's 1.7 percent decrease almost looked good in comparison with forecasts.

Ann Taylor Stores said same-store sales rose a better-than-expected 3.9 percent in November but expressed worries about low traffic at the end of the month.

Soft retail sales would make this the third consecutive holiday-shopping season to prove disappointing.

But while last year's holiday season was bleak for low- and midrange retailers alike, this year may be brighter for discount stores.

Discounters were able to fall back on their sales of essentials, like groceries and pharmacy items, along with the capability to offer compelling discounts in the face of a weak market.

Wal-Mart said its same-store sales rose 1.5 percent in November, exceeding estimates, and projected solid December sales increases.

Discount clubs fared even better: Costco posted a surprising 9 percent gain, while BJ's Wholesale Club reported a 7.7 percent increase in same-store sales, blowing away its 4.2 percent estimate.

Target bucked the trend for discounters, falling well short of November targets because of soft sales at the end of the month. The company projected dismal results in December and warned that it may not meet its fourth-quarter earnings forecast if business doesn't significantly improve.

At the other end of the spectrum, high-end retailers were able to soar above the fray as they did last year, since they cater to a demographic less sensitive to gas prices and credit woes.

Saks said it doubled forecasts for November, with same-store sales up 26 percent. Macy's reported a 13.4 percent rise in same-store sales, beating its 8.2 percent estimate. Nordstrom rebounded from its slip in the fall with an 8.7 percent gain in same-store sales, better than its 3.7 percent projection.  

Retailers credited in part strong international sales and colder weather during the month. But another big reason was the calendar: There were seven days of post-Black Friday shopping in November, more than last year. Of course, that means that December may suffer in comparison with a year ago.