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Retailers Blame Drop In Black Friday Sales On Black Thursday
Zero Hedge ^ | November 25, 2012

Posted on 11/25/2012 11:18:15 AM PST by Zakeet

Edited on 11/25/2012 1:41:12 PM PST by Admin Moderator. [history]

With all bad news on the tape now having a suitable "explanation", be it a prior president, a tropical storm, the weather being too hot, the weather being too cold, the weather being just right, but never, ever someone actually taking blame for the fact that life is what happens when corporate CEOs (and sovereign presidents) are busy making "priced to perfection" plans. So it is with what is now a confirmed flop of a Black Friday, which according to ShopperTrak saw sales drop by nearly 2% to $11.2 from 2011, which in turn was a 6.6% gain over 2010 (and would be revised to far lower once all the refunds and exchanges to cash took place in the two weeks later). This occurred despite a 3.5% increase in retail foot traffic to 307.7 million store visits. The nominal drop in retail sales also occurred despite a nearly 1% increase in the total US population over last Thanksgiving, and a 2% Y/Y inflation. But fear not: the ad hoc excuse for this "surprising" loss in purchasing power is already handy: it is all Black Thursday's fault, or the latest idiotic attempt by retailers to cannibalize their own future sales by diluting the exclusivity of Black Friday, and which will force all retailers to follow the sovereigns in a race to the bottom, as soon every day will be the equivalent of Black Friday. But at least retailers have another 364 years worth of excuses for the conceivable future to excuse any and all store weakness. Next year: it's all Black Wednesday's fault.


(Excerpt) Read more at zerohedge.com ...


TOPICS:
KEYWORDS: blackfriday; blame; economy; mediabias; recession; retail; thanksgiving
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Quick summary of the article: The mainstream media and business executives who supported the Royal Idiot are finding it more and more difficult to explain away the miserable economic failure that inevitably results from socialism.

1 posted on 11/25/2012 11:18:23 AM PST by Zakeet
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To: Zakeet

Black Tuesday’s fault.


2 posted on 11/25/2012 11:25:28 AM PST by TheConservativeParty ( 1444 days until Nov.8,2016)
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To: Zakeet

How funny. Everyone was saying that Black Friday had the highest sales in history and now this author is saying otherwise. I guess we just need to wait and see what the rest of the season sales are. I know Monday will probably be a huge day for on-line retailers. I guess you can find the opposite said about everything.


3 posted on 11/25/2012 11:28:45 AM PST by napscoordinator (GOP Candidate 2020 - "Bloomberg 2020 - We vote for whatever crap the GOP puts in front of us.")
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To: Zakeet

While our family may not be representative of other middle class ones, we normally spent close to $15,000 during the entire holiday season in past years which included a week long ski trip, gifts for families, friends, business clients and two house parties. This year is stay at home and total spent will be closer to $500 including food for a Christmas dinner with family and close friends. All the shopping is done, most of it on-line unless I had a great coupon for a small local store, and gifts wrapped. Any energy remaining will be used to bake cookies and try to figure out how my clients and my business can remain profitable in the coming year.


4 posted on 11/25/2012 11:32:08 AM PST by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: napscoordinator
How funny. Everyone was saying that Black Friday had the highest sales in history and now this author is saying otherwise.

yep.

5 posted on 11/25/2012 11:35:20 AM PST by null and void (The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt.)
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To: napscoordinator
I know Monday will probably be a huge day for on-line retailers.

Maybe it is. But for my business, on-line sales peak on 12/12, which also happens to be the biggest shipping day of the year. The sales curve is rounded on both ends.

"Cyber Monday" simply represents a slight uptick from the previous Monday, while Christmas purchases have been building up for at least a month.

6 posted on 11/25/2012 11:39:12 AM PST by St_Thomas_Aquinas (Viva Christo Rey!)
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To: Zakeet

Is what anyone says or reports about Black Friday on Black Friday or during Thanksgiving weekend ever borne out by the actual facts later?


7 posted on 11/25/2012 11:39:51 AM PST by John W (Viva Cristo Rey!)
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To: Zakeet

I blame it on Black Tuesday. Nov. 6.


8 posted on 11/25/2012 11:41:51 AM PST by FrdmLvr (culture, language, borders)
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To: null and void

The only place that I’ve seen anyone claiming great sales numbers was Walmart.


9 posted on 11/25/2012 11:45:26 AM PST by Bob
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To: Zakeet

When Black Friday sales start Thursday night... yeah, I guess Friday won’t be as busy.

Who’d a thunk it?


10 posted on 11/25/2012 11:45:35 AM PST by GeronL (http://asspos.blogspot.com)
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To: napscoordinator
Everyone was saying that Black Friday had the highest sales

Another example of: who are ou going to believe? The media or your own lying eyes?
11 posted on 11/25/2012 11:46:14 AM PST by Red in Blue PA (Read SCOTUS Castle Rock vs Gonzales before dialing 911!)
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To: Zakeet

COSTELLO: I want to talk about the unemployment rate in America.
ABBOTT: Good Subject. Terrible Times. It’s 7.8%.

COSTELLO: That many people are out of work?
ABBOTT: No, that’s 14.7%.

COSTELLO: You just said 7.8%.
ABBOTT: 7.8% Unemployed.

COSTELLO: Right 7.8% out of work.
ABBOTT: No, that’s 14.7%.

COSTELLO: Okay, so it’s 14.7% unemployed.
ABBOTT: No, that’s 7.8%.

COSTELLO: WAIT A MINUTE. Is it 7.8% or14.7%?
ABBOTT: 7.8% are unemployed. 14.7% are out of work.

COSTELLO: IF you are out of work you are unemployed.
ABBOTT: No, Obama said you can’t count the “Out of Work” as the unemployed.
You have to look for work to be unemployed.

COSTELLO: BUT THEY ARE OUT OF WORK!!!
ABBOTT: No, you miss his point.

COSTELLO: What point?
ABBOTT: Someone who doesn’t look for work can’t be counted with those who
look for work. It wouldn’t be fair.

COSTELLO: To whom?
ABBOTT: The unemployed.
COSTELLO: But they are ALL out of work.
ABBOTT: No, the unemployed are actively looking for work. Those who are out
of work gave up looking and if you give up, you are no longer in the ranks
of the unemployed.

COSTELLO: So if you’re off the unemployment roles that would count as less
unemployment?
ABBOTT: Unemployment would go down. Absolutely!


12 posted on 11/25/2012 11:46:43 AM PST by mirkwood
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To: Zakeet

Readig this article one would think the economy is doing great! Some excerpts below....virtually nothing is negative! Unbelievable!

Black Friday shoppers may have done more browsing than buying

http://www.baltimoresun.com/business/bs-md-holiday-shopping-1126-20121125,0,5358898.story

In-store sales on Thursday increased 71 percent, according to Chase Paymentech, a top credit-card processor.

Over the last three years, Americans have paid down their debts to the tune of $636 billion. Gasoline, electric and natural gas prices are decreasing.

Consumer confidence is on the rise and those surveyed this month by the Credit Union National Association and the Consumer Federation of America said they are more willing to open their wallets. Twelve percent of those polled said they expected to spend more, the highest level since 2007; 38 percent said they would spend less.


13 posted on 11/25/2012 11:49:43 AM PST by Red in Blue PA (Read SCOTUS Castle Rock vs Gonzales before dialing 911!)
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To: Zakeet

Yes, Erkelbama, you did do that


14 posted on 11/25/2012 11:50:49 AM PST by GeronL (http://asspos.blogspot.com)
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To: GeronL

The way it was going at our Walmart on “black Thursday” night, I’m surprised that they had any reason to open on Friday. There wasn’t anything left.


15 posted on 11/25/2012 11:51:00 AM PST by FlingWingFlyer (Criminal defense lawyers won't have the Twinkie to kick around anymore.)
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To: Red in Blue PA

Another example of: who are ou going to believe? The media or your own lying eyes?

I worked Friday so I didn’t see anything. However, on Saturday I went out and could not believe that I found a parking space relatively close to the mall. That has never happened before during this time of the year. Normally I have to pack a lunch to go to the mall because of how far away I am parked. lol.


16 posted on 11/25/2012 11:51:00 AM PST by napscoordinator (GOP Candidate 2020 - "Bloomberg 2020 - We vote for whatever crap the GOP puts in front of us.")
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To: Zakeet
By the time the depression is over, everyone will be flat out broke, but at least everyone will know every possible synonym of "bullshit" imaginable.

"and now...the Pullitzer for best line ever to appear in an on-line report on the economy..."

17 posted on 11/25/2012 11:52:34 AM PST by who knows what evil? (G-d saved more animals than people on the ark...www.siameserescue.org.)
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To: FlingWingFlyer

lol


18 posted on 11/25/2012 11:56:37 AM PST by GeronL (http://asspos.blogspot.com)
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To: napscoordinator

I’m not sure that’s the case. At first, it was reported that Walmart had a record number of SHOPPERS. That somehow then got reported as record SALES.

From my limited observations, the Christmas shopping seems less than a year ago, possibly only because it’s started earlier than usual.

It has been reported that people are running up more Obama card... er, credit card... debt so far this season.


19 posted on 11/25/2012 11:59:01 AM PST by jjotto ("Ya could look it up!")
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To: Zakeet

When consumers catch on that prices have been raised, not lowered, on “Black Friday” merchandise, expect this gimmick to lose its charm.

Other than three or four big screen TVs or iPads or computers used as bait, stores have few legitimate bargains. After hiring extra sales people and security guards for the mobs of “Looky-lous”, retailers will probably have lost money.


20 posted on 11/25/2012 12:00:14 PM PST by txrefugee
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