(snip)" * Black Friday weekend spending down 8 pct per person -NRF
* Some 195 mln shoppers on Black Friday weekend -NRF
* Retail shares may head lower on weekend data
* Wal-Mart, Target, Saks among stronger performers
* Total weekend spending up 0.5 pct from yr ago -NRF
(Adds America's Research Group data)
By Nicole Maestri and Brad Dorfman
SAN FRANCISCO/CHICAGO, Nov 29 (Reuters) - U.S. consumers
spent significantly less per person at the start of the holiday
season this weekend, dimming hopes for a retail comeback that
would help propel the economy early in 2010.
The lackluster spending could pressure retail stocks on
Monday as some investors were looking for a stronger showing
compared with a year earlier, when consumers were being
hammered by the recession and credit crunch.
"There may be a bit of a pullback, a little
disappointment," said Patricia Edwards, chief investment
officer at Storehouse Partners.
While shoppers turned out in force as early as U.S.
Thanksgiving Day on Thursday, many said they had zeroed in on
highly discounted items, would buy only what they needed and
would walk out of a store if they did not find a good deal.
"Shoppers proved this weekend that they were willing to
open their wallets for a bargain," said National Retail
Federation Chief Executive Tracy Mullin in a statement on
Sunday. Retail chains "know they have their work cut out for
them to keep people coming back through Christmas."
Store chains that may have done better than their peers
include discount retailers like Wal-Mart Stores Inc (WMT.N) and
Target Corp (TGT.N), teen apparel retailers Aeropostale Inc
(ARO.N) and American Eagle Outfitters (AEO.N) and higher-end
chains like Saks Inc (SKS.N), analysts said."(snip)
One could probably draw an analogy between the facts of Black Friday spending and club spending trends of late ... i.e. bottom end and high end doing OK but middle doing badly ... i.e. a large number of shoppers only willingly opening their wallets for big ticket expenditures if they are getting much more 'bang for their buck' etc.



Reply With Quote


Bookmarks