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Subject Black Friday Distortions ,,,Spending
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Original Message NRF Black Friday Distortions
Over the weekend I received some taunts about how "great" Black Friday was.

Bloomberg reported U.S. Shoppers Spend 19% More on Thanksgiving Weekend.

Nov. 26 (Bloomberg) -- U.S. shoppers spent 18.9 percent more over the Thanksgiving weekend than last year, kicking off holiday gift buying with purchases of discounted wide-screen televisions and clothes, the National Retail Federation said.

Consumers spent an average $360.15 each over the weekend, up from $302.81 a year earlier, the NRF said today in a statement. Fewer people shopped, with about 140 million visiting stores during the four days including Thanksgiving, down from 145 million last year.
That did not jive with sales at Walmart as CNN Money reported Wal-Mart sees sluggish sales for November, including Black Friday results.

Wal-Mart Stores Inc. predicted surprisingly weak November sales on Saturday, but a survey of thousands of retail locations pointed to a relatively healthy start to the holiday shopping season.

Wal-Mart estimated that November sales fell 0.1 percent at its U.S. stores open at least a year - the forecast includes sales on Black Friday. At the same time, a survey by ShopperTrak estimated a 6 percent sales increase overall for the day, to $8.9 billion.

more at...

[link to globaleconomicanalysis.blogspot.com]
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