The weekend wasn’t quite the knockout retailers hoped for because of frigid weather, snow and ice storms in the country. The key question was whether the last-minute rush over the weekend will be enough for stores to hit their holiday targets of 3 to 4 percent growth and at what price to margins those sales will come.
Saturday was actually pretty busy. It was almost the equivalent to last year’s final Saturday. Although we were slightly behind in traffic, the malls had been lagging, mostly because the holiday selling season has been spread out, beginning before Black Friday and extending out due to the extra shopping weekend this year.
Typically for Black Friday, 50 percent off is almost always planned promotions. This past weekend, maybe a few were planned promotions. I would venture that because promotions were deeper, the management teams did not think this was a successful holiday. Continue reading