Black Friday Sales Up 6% to Nearly $9B; Wal-Mart Disappoints

The nation's retailers had a strong start to the holiday shopping season, as sales rose 6% to $8.96 billion on Balck Friday, compared to the same day a year ago, according to ShopperTrak RCT Corp., which tracks total sales at more than 45,000 mall-based retail outlets. However Wal-Mart sales lagged as it expects to report same-store sales in November below its already lackluster forecast.

Wal-Mart, however, estimated it will post a 0.1% decline in same-store sales, or sales at stores opened at least a year, in November. Same-store sales are a key performance indicator of a retailer's health.

According to the International Council of Shopping Centers, Wal-Mart has averaged a meager 2.4% gain in same-store sales for the February-October period. That compares with a same-store sales gain of 4.8% for Target and 4.5% for Penney  for the February-October period.

Previous: « Outsourcing 100 Top Management Jobs to India Saves More Than Eliminating 10,000 Workers

Next : » IP Phone Shipments to Jump 16 Fold from 2006 to 2010


  ABOUT    CONTACT Metrics 2.0 RSS Feeds RSS   Metrics 2.0 Widgets for your site or blog WIDGETS   ARCHIVES


Enter Email for Daily Feed Delivery: