Black Friday sales up 6 Percent: Wal-Mart Sales DOWN

[itsrobert]

I predict sales maybe up, but after the loss leaders such as Plasma/LCD screens are factored in the profits will be down. Watch for it.


Nov. 25, 2006, 4:13PM
Black Friday sales up 6 percent over '05


By ANNE D'INNOCENZIO AP Business Writer
© 2006 The Associated Press


NEW YORK — The nation's retailers had a strong start to the holiday shopping season, according to results announced Saturday by a national research group that tracks sales at mall-based stores. One big exception was Wal-Mart Stores Inc., which said it expects to report same-store sales in November below its already lackluster forecast.

According to ShopperTrak RCT Corp., which tracks total sales at more than 45,000 mall-based retail outlets, total sales rose 6 percent to $8.96 billion on Friday, the start of the holiday shopping season, compared to the same day a year ago.

"Although we anticipated a solid consumer turnout for Black Friday, this data shows an even larger increase than expected as consumers proved they were willing to spend," said Bill Martin, co-founder of ShopperTrak, in a statement.

Wal-Mart, however, estimated it will post a 0.1 percent decline in same-store sales, or sales at stores opened at least a year, in November. That's slightly below its original projections for flat sales for the month, compared to the year-ago period. The results cover the four-week period that ended through Friday. Same-store sales are considered a key indicator of a retailer's health.

(more)
http://www.chron.com/disp/story.mpl/ap/business/4359530.html

[EdwardM]

1. Well, I guess thats a 0.1 percent step in the right direction!

[Sherman A1]

3. A journey of billions of dollars

begins with that 0.1% sales decline. It's not much, but it's a start. I actually thought the Friday ads were pretty poor and I certainly wasn't getting up early to go shopping.

[EdwardM]

2. dupe

[napi21]

4. I think we should wait and see how the rest of the Holiday season sales #'s

turn out. Guaging the season on Black Friday is a false foundation. Many people went shopping THAT DAY just for the giveaways. I'll be interested to see if the trend lasts through the next 4 weeks.

[spinbaby]

8. It seemed back to normal today

We had occasion to drive by a Target yesterday and again today. Packed yesterday, back to normal today. The heavy shopping season evidentially only lasts the one day;-)

[TheWatcher]

5. American Cattle still willing to herd wildly for more crushing debt

Film at 11.

[nealmhughes]

6. Slave labor trinkets! Slave labor trinkets! More! More! More!

eom

[Beausoir]

7. Walmart.com crashed most of the day yesterday.

Prize idiots.

They can't even keep their website up and running on Black Friday.

Indicative of the quality of their merchandise.

[Viva_La_Revolution]

9. didn't they report like this last year too, and then revised numbers down

by the end of the week?

I'll wait a few days before I start believing these numbers.