Black Friday Sales higher then Expected.
It seems the first counts coming out of Retail stores are for slightly better sales then was anticipated. $10.6 billion dollars spent as opposed to $10.3 billion last year. The question I guess is will it be sustained. Remember last year there were 32 shopping days between Thanksgiving and Christmas and this year on 27. Therefore there should be more spending per day just to equal same store sales from a year ago. I was in a few stores yesterday and although they were relatively empty, so were the shelves. Sales people informed me that the were "busier then expected yesterday" and that "what was on the shelves is what we have".
I am not sure what this will translate into, as I am sure we are in for very poor economic numbers again this week.
CLICK HERE to read the story about Black Friday Sales.
I will post on the markets a little later.
Good Luck and Good Currency Trading
Labels: Markets
posted by Banker at
Sunday, November 30, 2008
2 Comments:
My cousin just bought a laptop -- had to wait in line and fight through a crowd to get it. And ended up paying $200 more for it than what it would have sold for last week.
Reminds me of those advertisements with slashed price stickers, with a lower sale price next to the slashed price. Only the "sale" price isn't a discount -- it's in fact a bit more than it should be. I asked a store employee once why the advertisement for a HD video camera said "sale" when the price was no different from what was considered "retail". She said, "Well, it *is* a sale. You're buying it, I'm selling it to you."
To which I replied, "Uh uh, I'm not buying it." And I walked out the door. Of course I was back next weekend to buy something else.
I am a sheep.
I have done the same. Buying a car many years ago I told him the dashboard looked cheap,looking for hime to come down in price. He didn't and I came back a week later and paid full price for the car with the "cheap looking dashboard". uugghh.
Banker
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