Consumer
Black Friday Sales Signal Tough Holidays for US Retailers
A group of chains that rely on Black Friday more than peers posted a 4% drop in sales.
Shoppers wait to check out out a Best Buy store in Union City, California, during this year’s Black Friday.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
For retailers and brands that rely on Black Friday the most, the day was a dud.
That’s a troubling sign for these chains and a US economy that needs consumers to keep upping their spending to avoid a recession. It also increases the risk that the remainder of the holiday shopping season will be disappointing, forcing retailers to offer more discounts to catch up.