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Electronics, far and away, was the lightning rod for bargain-hungry shoppers this year both in stores and online. Traffic at Best Buy was "materially bigger" and cash-register ring-ups exceeded last year's sales, says Barclays Capital senior research analyst Michael Lasser...
Best Buy's doorbuster specials drew large Black Friday crowds with customer lines snaking around the block at many of its stores in the wee hours of the morning. Other retailers, such as Staples, Radio Shack, GameStop and hhgregg, also reaped benefits from the electronics frenzy, notes Credit Suisse analyst Gary Balter. Many offered sharp discounts on gadgets, ranging from laptops and high-definition TVs to GPS devices and e-readers, as they jockeyed to fill the void left by the demise of Circuit City in the past year. "There is an insatiable hunger for these devices and they make...
...electronics retailers on price every step of the way, allowing them to gain market share in the electronics sector. Walmart was especially competitive. "Walmart's [average] prices were 3.5% below Amazon, 4.2% below Target and down double digits compared to both Kmart and Toys "R" Us," said Goldman Sachs analyst Adrianne Shapira, in a note. "Walmart left no doubt as to who was the pricing leader...
Teen-oriented and casual-wear retailers, which had a slow start in November, were among the busiest over the Black Friday weekend. Companies such as Aeropostale, American Eagle Outfitters and Old Navy were big winners, wrote Credit Suisse analyst Lejuez in a research note. Traffic to Victoria's Secret and Bath & Body Works was also strong, said Kimberly Greenberger, a managing director at Citigroup Global Markets...
...survey conducted by Nielsen, 59% of consumers indicated they planned to shop at least once at Amazon during the holiday season, says Ken Cassar, a Nielsen analyst...