The best indicator that "Black Friday" was a total bust...

[Atman]

All the news stories today were about how retailers were counting on a strong weekend today and tomorrow. Not one about how well they did yesterday. I saw one story on CNN wherein the manager of the mall in King of Prussia, PA pointed out that "traffic" was up from last year.

"TRAFFIC." He didn't say sales or income. Simply "traffic."

Think of years past. When Black Friday sales are good, the news is all over it, promoting it, helping excite buyers and drive "traffic" to the malls. But not this year. I haven't seen one mention of actual sales figures. That should tell you a lot. When sales are good, they always can't wait to tell you about. Now...wait to see what the weekend brings.

I think "black" Friday is going to take on a new meaning after this weekend.

.

[TomInTib]

1. It's pretty dead here.

I figured they are all at the malls, but I have heard otherwise, today.

At our Gallery, the less expensive (though unique) stuff is what's selling. A far cry from last year. And I am in one of the wealthiest ZIP codes in the country.

[grannie4peace]

2. i had to drive by at 5:30 am & it was scary---crowded

[MercutioATC]

3. The only news I've seen is that retailers are offering more sales this year.

In theory, that should result in higher sales but lower profit margins.

I went out today and the only stores with any traffic were the discount stores. The jewelry store I shopped at had me and a couple looking at engagement rings...that's it (and I was there for about 30 minutes).

[smoogatz]

4. I'm guessing we'll find out it's a mixed bag.

Not quite the frenzy of past years, but probably not an all-out disaster, either. It's next year that's likely to be truly grim, unless Obama can get a major (major major) stimulus package passed.

[Atman]

5. I disagree. The BEST any retailer was hoping for was flat sales.

They'll be damned lucky to hit "flat" this year. Again, "traffic" and "crowds" mean nothing if all the people are keeping their money in their pockets, which appears to be the case.

.

[smoogatz]

7. It's anecdotal and means nothing, I know

but my mom went to the Wal Mart in Athens, Ohio to return something yesterday (I know--duh, right?) and evidently the place was mobbed--a total madhouse. That's in the third poorest county in the state, with a current unemployment rate just below 7%. That suggests to me that low-end retailers will do okay this year. Now, I don't doubt that high-end retailers are probably going to be looking at some pretty grim sales figures--so, a mixed bag, as I say.

[blondeatlast]

14. Big retailers anticipated a slower season so bought conservatively.

Last year was dismal but not tragic and so they were already prepared; by the time summer came around (which is when they purchase for the holidays) they knew there would be trouble.

No retailer wants excess inventory around in mid-January (when inventory--and thus inventory taxes--arrive).

[Pyrzqxgl]

6. I own a small business in an older part of my city.

Business was shitty yesterday in marked contrast to years when it was my best day of the year.
I've been in this very small business game for 42 years and this has to be one of the worst days
after Thanksgiving I've faced.

[Sherman A1]

8. What kind of business?

I ran a small retail game/hobby store for 18 years and it was always generally a good weekend, but never consistent. We had some that were just okay, but it was sort of a homecoming weekend for customers that had left the area, but were in visiting family for the weekend. I always had fun seeing the folks, but never could outguess the sales patterns. I know that this year will be a compressed season with only 3 more weekends until Christmas. It's gonna be tight.....

Best of Luck to You! I hope you get good sales numbers, maybe with Monday being the 1st folks will have some money after payday!


:hi:

[joe_sixpack]

9. This is supposed to be the "worst" financial crisis since the depression....

How can the shopping season be anything but bad? How can people be shopping at all?

[Arctic Dave]

10. Up here in Alaska, Arctic Jodie, was saying that she thought

"traffic" was down. She has been in the retail business for 18 years. She believes part of the problem is that the stores are failing to entice people with the same ol' crap on sale year after year.
So combine that with a crappy over all economy and I think the retailers are going to have a lackluster holiday event.

[Midlodemocrat]

11. Well, here it wasn't a total bust. Store parking lots were crammed.

But, I believe that VA is a state that isn't in a recession at the moment.

[Atman]

20. Awesome. Were people at least paying for parking?

Because "traffic" doesn't equate to "sales."

.

[littlebit]

12. I had a hard time sleeping last night so at about 1am

I went to Walmart (they were the only thing open here). The one here still had a lot of the stuff that had been advertised. They had already marked down some of it even more than what it was earlier in the day.

[crusoe]

13. Sales were up 3%

According to a Bloomberg article seen here: http://www.bloomberg.com/apps/news?pid=20601087&sid=arRTxyMCNil4&refer=home

[Demeter]

15. A Fundie I Know Swore She Wouldn't Shop on Black Friday

because there must be something EVIL about it, if they call it "Black".

When I explained that this was the day retailers hoped to make a profit for the year, and get their accounting books "in the black", she was very quiet.

[emilyg]

16. Pretty busy in my part of the world.

[RB TexLa]

17. Was bigger than last year. $10.6B up from $10.3B

AP
Early data shows strong Black Friday shopping
Saturday November 29, 9:26 pm ET
By Ashley M. Heher, AP Retail Writer
Preliminary sales figures show stronger-than-expected Black Friday; sales up 3 percent


CHICAGO (AP) -- The holiday shopping season got off to a surprisingly solid start, according to data released Saturday by a research firm. But the sales boost during the post-Thanksgiving shopathon came at the expense of profits as the nation's retailers had to slash prices to attract the crowds in a season that is expected to be the weakest in decades.

Sales during the day after Thanksgiving rose 3 percent to $10.6 billion, according to preliminary figures released Saturday by ShopperTrak RCT Corp., a Chicago-based research firm that tracks sales at more than 50,000 retail outlets. Last year, shoppers spent about $10.3 billion on the day after Thanksgiving, dubbed Black Friday because it was historically the sales-packed day when retailers would become profitable for the year.

http://biz.yahoo.com/ap/081129/holiday_shopping.html

[AlCzervik]

18. i went to the movies, it was kind of busy, as for retailers, i have no idea.

i went to see the new Bond film last saturday and the place was totally dead, the girl behind the counter told me on opening day they sent half the employees home because it was so dead.

[GoesTo11]

19. I spent 50% more than last year at this time.

50% x 0 = 0.