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...National Retail Federation (NRF) estimates that 195 million people visited stores and websites over the Black Friday holiday weekend, up from 172 million last year. However, shoppers spent less, with average spending dipping 8%, to $343.31 a person from $372.57 a year earlier. Total spending over the holiday kickoff weekend reached $41.2 billion, up only slightly from $41 billion a year...
...Shopper traffic well surpassed our expectations," says Krugman. However, the dip in spending left him cautious, and he continues to project a 1% sales decline for the total holiday season...
...Online sales clearly did better, but that's only 4% of total retail sales," says Davidowitz...
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...
...heat. "It is an efficient system as it solves the problem of dealing with animal waste and it provides heat," says Leo Virta, the managing director of Konvex. "The main part of this fuel is coming from cows, pigs and moose. Rabbits are only a small part of the total volume. We take the raw animal material, mince it up into small pieces and add some formic acid. We then take the fuel and deliver it to the heating centers. One hundred thousand tons of raw material can generate enough heat for 11,000 homes a year...