Black Friday 2009: For retail, nowhere to go but up
Filed under: Shopping
With the start of the holiday shopping season two months off, retail analysts' predictions for the first post-crash gift-buying extravaganza are trickling in (via yesterday's WWD).The good news: Analysts think retail profits may rise in the fourth quarter.
The bad news: They still expect it to be one of the worst seasons on record, sales-wise -- any fourth-quarter spike in profits will only look like a boost in comparison to the previous three quarters' dismal numbers.
Okay, there's a little bit more good news: retailers, who saw a collective 4.5% drop in profits last year, have spent this year attempting to stop the bleeding by keeping a strict grip on inventory and doing all they can to keep prices low. If they want to hit analysts' projections, they'll keep up that disciplined approach into the fourth quarter, which spells great holiday deals for shoppers.
And if all goes well, they'll have the distinction of charting the second worst fourth quarter in 42 years. You guessed it: last year's was the worst. So there's nowhere to go but up.
For more Black Friday coverage, check out our Black Friday Deals and other Black Friday 2009 news today.
Reader Comments (Page 1 of 1)
9-28-2009 @ 10:37AM
Garry Leslie said...
Retailers have had years and years of excellent high holiday season spending, but as usual, and I know last year was a very poor year, but the finger is always pointed at the buyers ability to buy for the holidays. why Isn't it even considered that 1,000's have lost jobs, homes, and the ability to purchase gifts for their families, and are deeply effected by this loss of income? Wake up America, as we are in serious trouble!
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9-28-2009 @ 3:22PM
Matt said...
I realize people are hurting, but my wife and I go out to eat every weekend and from the looks of so does everybody else. I know that malls are full, wal mart is full, so is all the name brand rest. so it looks to me like the ecomony should be picking up.
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9-28-2009 @ 9:14PM
HARVEY said...
YOU MUST BE FAT!
9-28-2009 @ 9:13PM
HARVEYEDELBERGERWITZSTEINNERBAUM said...
IT IS BETTER TO RECEIVE THAN GIVE
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10-01-2009 @ 2:05PM
Sabers74 said...
I have been hearing the same thing. I work with a lot of clients professionally that are in the retail arena and I am finding that online only stores will fare better than multi channel retailers this year. I guess we'll see how it goes. This site thinks that sales will be better this year than ever: http://www.bfreedom.com/2009/09/15/black-friday-sales-ads/
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