Analysts are expecting one of the most heavily trafficked Fridays after Thanksgiving in years, and to attract those customers, retailers are expected to offer a rash of sales and door-buster specials that may eat into their profits....
>>>Analysts are expecting one of the most heavily trafficked Fridays after Thanksgiving in years, and to attract those customers, retailers are expected to offer a rash of sales and door-buster specials that may eat into their profits.
But the turnout may be a little lower, given predictions of snowstorms moving from the West to the Midwest and New England, and rainstorms in the New York area.
The day after Thanksgiving is called Black Friday because it is the day that retailers hope to turn from unprofitable (in the red, in accounting terms) to profitable (in the black) for the year. Last year, consumers spent $18.6 billion on Black Friday, according to MasterCard Advisors SpendingPulse.
Analysts surveyed by Thomson Reuters expect November sales for stores open at least a year to increase 3.5 percent, a sharp uptick after last year, when sales increased just 0.5 percent.
[read more about people's predictions about Black Friday 2010]
http://www.nytimes.com/2010/11/26/business/26retail.html