"Black Friday" turned into "Where the f**k did the shoppers go?" Saturday.....

[marmar]

Black Friday Boost Fails to Stem November Sales Drop (Update3)
By Heather Burke


Dec. 4 (Bloomberg) -- Wal-Mart Stores Inc. was one of a handful of U.S. retailers to post November sales gains after the Wall Street meltdown caused consumers to postpone shopping until the holiday-sales kickoff at the end of last month.

J.C. Penney Co., Nordstrom Inc. and Gap Inc. all reported sales drops of 10 percent or more at stores open at least a year. The decreases were less than some analysts estimated after 50 percent-off discounts on clothing lured customers grappling with the U.S. recession.

Declines in consumer spending in October persisted into the first part of November before rebounding on Black Friday, the unofficial start to the holiday-shopping season. Macy’s Inc. lowered prices by half on some coats, while Gap offered sweaters in a two-for-one promotion. The markdowns may hurt retailers during a period when they make a third or more of their annual profit.

“The numbers are horrendous, and they’re going to get even worse because the American consumer is completely and totally underwater,” Howard Davidowitz, chairman of Davidowitz & Associates Inc., a New York-based retail consulting and investment firm, said in an interview. “Wal-Mart has monster doorbusters out there on toys, electronics and everything else. It is Wal-Mart time.”

November same-store sales fell 2.7 percent, the International Council of Shopping Centers said, based on a survey of 37 chains. The New York-based trade group said purchases during the final two months of the year may fall as much as 1 percent, worse than its forecast of a 1 percent gain.

Comparable-store sales rose 3.4 percent, Wal-Mart said today, beating the world’s largest retailer’s forecast for a 1 percent to 3 percent increase. Limited Brands Inc., the owner of the Victoria’s Secret chain, dropped 12 percent, while Costco Wholesale Corp.’s global sales declined 5 percent. .........(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=avgWoCWdMIqU&refer=home

[FriendlyReminder]

1. I was totally shocked when I went to my local mall and found a PARKING SPOT!!!!

I couldn't believe it. I almost didn't go because of the reputation of black friday and lines/crowds/no parking. This is just anecdotal but I think it means something.

[Skink]

2. The bookstore I work at did better Sat. than Friday.

And Friday was better than expected. This was the first time for that and the company sees a trend.

[marmar]

3. That's the exception, not the rule.......

visit www.marketwatch.com , it's bleak......