3rd
Dec
2009

Black Friday Is a Bomb

Posted by Admin | December 3rd, 2009

The economy has long been suffering from a serious recession, the likes of which has not been seen for decades. Black Friday, the shopping holiday that comes right after Thanksgiving, was predicted to give the economy, and November sales numbers, a significant jump–and one that might rejuvenate the economy.

Unfortunately, Black Friday posted disappointing sales numbers despite massive media coverage and hype of the event.

About 30 national chains reported monthly sales at established stores on Thursday, a key measure of the industry’s health. Several chains, including Costco and J.C. Penney, performed worse than analysts expected. Retailers said that unseasonably warm weather dampened sales at the beginning of the month. In addition, shoppers saved their cash for post-Thanksgiving deals.

Analysts had expected a much better showing from the nationwide sale. These numbers are incredibly disappointing and seem to be fairly bad news for the economy in general.