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Retail Executives Less Optimistic About Black Friday in Survey {warning: bloomberg link} [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-16-11 10:06 AM
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Retail Executives Less Optimistic About Black Friday in Survey {warning: bloomberg link}
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http://www.bloomberg.com/news/2011-11-16/retail-executives-less-optimistic-about-black-friday-in-survey.html

Retailers chief marketing officers are less optimistic about sales growth on Black Friday than they were a year earlier as increasing competition prompts stores to boost discounts, according to a survey by BDO USA.

Purchases on Nov. 25, the day after the Thanksgiving holiday, may rise 1.6 percent, the average estimate of 100 executives in BDOs survey conducted last month. That compares with an average projection of a 3.8 percent increase in the survey last year.

Its not a home run by any means, but its positive growth, Ted Vaughan, a partner at BDOs retail and consumer practice in Dallas, said in an interview. Black Fridays importance has diminished as retailers start advertising holiday deals earlier, he said.

Black Friday serves as the unofficial start to the holiday shopping season when retailers lure shoppers to stores with discounts and giveaways. Sales on the day rose 0.3 percent last year, according to Chicago-based ShopperTrak. Sales for the weekend after Thanksgiving gained 6.4 percent last year, according to the National Retail Federation.
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