Black Friday high on volume, short on profits

Sales on Black Friday — the day after Thanksgiving, thought to be the busiest shopping day of the year — fared better than anticipated but did not rescue November retail sales, according to a report from Thomson Reuters of New York..
DEC 02, 2008
By  Bloomberg
Sales on Black Friday — the day after Thanksgiving, thought to be the busiest shopping day of the year — fared better than anticipated but did not rescue November retail sales, according to a report from Thomson Reuters of New York.. In fact, November same-store retail sales may be the worst recorded due to drastic price cuts: The success of Black Friday sales probably came at the expense of margins as stores cut prices, the report said. Analysts are expecting a 2.5% drop in November same-store sales, according to Thomson Reuters. That expected decline jumps to 7.1% with Wal-Mart Stores Inc., factored out of the equation. Consumers have experienced high prices for food and other essentials in addition to a fall in home values this month. As a result, people have cut spending, and the later timing of Thanksgiving this year hurt chances for a sales recovery. Declines are expected from most retailers, according to Thomson Reuters data. Wal-Mart of Bentonville, Ark. is expected to report a 2% increase, while its rival Target Corp. of Minneapolis is expected to see a 9.1% loss in same-store sales.

Latest News

Married retirees could be in for an $18,100 Social Security cut by 2032, CRFB says
Married retirees could be in for an $18,100 Social Security cut by 2032, CRFB says

A new analysis finds long-running fiscal woes coupled with impacts from the One Big Beautiful Bill Act stand to erode the major pillar for retirement income planning.

SEC bars New Jersey advisor after $9.9M fraud against Gold Star families
SEC bars New Jersey advisor after $9.9M fraud against Gold Star families

Caz Craffy, whom the Department of Justice hit with a 12-year prison term last year for defrauding grieving military families, has been officially exiled from the securities agency.

Navigating the great wealth transfer: Are advisors ready for both waves?
Navigating the great wealth transfer: Are advisors ready for both waves?

After years or decades spent building deep relationships with clients, experienced advisors' attention and intention must turn toward their spouses, children, and future generations.

UBS Financial loses another investor lawsuit involving Tesla stock
UBS Financial loses another investor lawsuit involving Tesla stock

The customer’s UBS financial advisor allegedly mishandled an options strategy called a collar, according to the client’s attorney.

Trump's one big beautiful bill reshapes charitable giving for donors and advisors
Trump's one big beautiful bill reshapes charitable giving for donors and advisors

An expansion to a 2017 TCJA provision, a permanent increase to the standard deduction, and additional incentives for non-itemizers add new twists to the donate-or-wait decision.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.