Word: friday
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Marshall Cohen, chief retail analyst at NPD Group, sees the Black Friday glass as half-full rather than half-empty. "The fact that retailers were able to sell as much, if not more, product at a 40% discount, compared with last year's 75% storewide discount, was positive," says Cohen...
...looking at an auspicious start or negative perception in the consumer psyche" after seeing Black Friday's heavy traffic, he says. "But the biggest question is, Will they have the momentum to keep this going...
Even QVC, which sells merchandise on its shopping channel and website, reported more than 765,000 orders totaling $32 million in sales on Black Friday - the highest level in the company's 23-year history and 60% more than last year's Black Friday sales...
Overall, Black Friday weekend sales indicated consumers' mood and the direction of their spending, says Richard Jaffe, managing director at Stifel Nicolaus & Co. Clearly, shoppers "are deeply focused on price and more thoughtful in their spending." (Read a brief history of Black Friday...
...Black Friday's business has left Davidowitz bearish on retailers' prospects this holiday season. "I expect total holiday sales will be down 1% to 2% - going against last year, which was the worst Christmas in 40 years...