Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

So Much For A "Record Black Friday": November Retail Sales Miss Big
Zero Hedge ^ | 12/13/2011 | Tyler Durden

Posted on 12/13/2011 9:06:38 AM PST by SeekAndFind

Earlier we just got confirmation out of Best Buy that one can not, as expected, offset negative margins with near-infinite volume (as the stock tumbles). Now we get advance retail sales proving that all speculation about a record Black Friday was just that. Oh, and a lie. In short - everything missed. Advance retails sales in November (including Thanksgiving) came at 0.2%, on expectations of 0.6%, and down from a revised 0.6%. Retail sales less autos was 0.2%, half of the expected 0.4%, while ex Auto and Gas also printed at 0.2%, also missing big. So... where did all the money go, aside from generating even more negative profits for retailers, who now have to eat a huge cash hole in addition to everything? Or were speculations that Black Friday was a bust, spot on? Expect lower Q4 GDP revisions based on this data.

From the report:

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for November, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $399.3 billion, an increase of 0.2 percent (±0.5%)* from the previous month and 6.7 percent (±0.7%) above November 2010. Total sales for the September through November 2011 period were up 7.4 percent (±0.5%) from the same period a year ago. The September to October 2011 percent change was revised from +1.1 percent (±0.3) to +1.3 percent (±0.3%).

 

Retail trade sales were up 0.3 percent (±0.5%)* from October 2011, and 6.8 percent (±0.7%) above last year. Nonstore retailers sales were up 13.9 percent (±2.3%) from November 2010 and gasoline stations sales were up 12.9 percent (±1.7%) from last year.



TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: black; blackfriday; friday; retail; retailsales; sales; unexpected

1 posted on 12/13/2011 9:06:40 AM PST by SeekAndFind
[ Post Reply | Private Reply | View Replies]

To: SeekAndFind
So we didn't live up to their "expectations". Too funny...

Apparently the same math method used for Climate change.

2 posted on 12/13/2011 9:16:35 AM PST by Sacajaweau
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
Hint: Stop calling it "Black" Friday.

Too many negative connotations.

Go back to calling it, "The Day After Thanksgiving."

3 posted on 12/13/2011 9:20:09 AM PST by HIDEK6
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

When Obama loses next November I predict a record Christmas buying season.


4 posted on 12/13/2011 9:20:41 AM PST by AU72
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sacajaweau; SeekAndFind
The record is perfect. 100% of the economics reports under obama were announced as stellar improvements with much ballyhoo and enthusiasm, and quietly downgraded within days or weeks.

100%. Every single time. All of them.

I think I'm beginning to see a trend here.

But maybe it's just me...

5 posted on 12/13/2011 9:23:49 AM PST by null and void (Day 1057 of America's ObamaVacation from reality [Heroes aren't made, Frank, they're cornered...])
[ Post Reply | Private Reply | To 2 | View Replies]

To: AU72

I’m not betting he’ll lose. That would require an honest election, or for that matter, any election.

National emergency, dontcha know?


6 posted on 12/13/2011 9:27:14 AM PST by null and void (Day 1057 of America's ObamaVacation from reality [Heroes aren't made, Frank, they're cornered...])
[ Post Reply | Private Reply | To 4 | View Replies]

To: HIDEK6

A couple of months ago, I noticed Big Media referring to a good stock market day as being “in the green” and figured the fix had already been in to rename Black Friday to Green Friday.

Maybe they had intended to after the sales figures backed up their projections.


7 posted on 12/13/2011 9:29:38 AM PST by treetopsandroofs (Had FDR been GOP, there would have been no World Wars, just "The Great War" and "Roosevelt's Wars".)
[ Post Reply | Private Reply | To 3 | View Replies]

To: SeekAndFind

later


8 posted on 12/13/2011 9:30:16 AM PST by wjcsux ("In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sacajaweau

The customary ‘unexpected’. We may even have moved from customary into formal ritual at this point.


9 posted on 12/13/2011 9:37:26 AM PST by Psalm 144 (Voodoo Republicans: Don't read their lips - watch their hands.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: SeekAndFind

Since the first Bush presidency, I have noticed that Christmas retail seasons are always touted to be below expectations when a Republican (or is it simply when a Bush) is president, while they always exceed expectations when a Demoncrat is president.

No, folks, no bias here.


10 posted on 12/13/2011 9:37:57 AM PST by bagman
[ Post Reply | Private Reply | To 1 | View Replies]

To: treetopsandroofs

Yeah. Anytime I hear Black Friday, I think of the 1929 crash.


11 posted on 12/13/2011 9:38:55 AM PST by HIDEK6
[ Post Reply | Private Reply | To 7 | View Replies]

To: HIDEK6

RE: Hint: Stop calling it “Black” Friday.

I’m surprised the Jesse Jacksons and Al Sharptons of the world have not made an issue out of it yet...


12 posted on 12/13/2011 9:40:28 AM PST by SeekAndFind
[ Post Reply | Private Reply | To 3 | View Replies]

To: SeekAndFind

The radio news readers were soiling themselves with glee over the record setting Black Friday as I was driving to a suburban Boston Costco the next day. This particular Costco is at the end of a very busy retail boulivard. There were cops on overtime at every intersection, standing around. As we went in to the store, I told my wife that I had NEVER seen any Costco that empty on a weekend afternoon in my 25 years of shopping there.


13 posted on 12/13/2011 9:41:10 AM PST by j_tull (I may make you feel, but I can't make you think.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: null and void

Just like the unemployment reports. Definitely a pattern....of deception.


14 posted on 12/13/2011 9:42:59 AM PST by Sacajaweau
[ Post Reply | Private Reply | To 5 | View Replies]

To: SeekAndFind
.....one can not, as expected, offset negative margins with near-infinite volume...

Ah yes, the old 'we lose a little on each one but we'll make it up in volume' gambit
15 posted on 12/13/2011 9:52:43 AM PST by slumber1 (Don't taze me bro!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: HIDEK6
Yeah. Anytime I hear Black Friday, I think of the 1929 crash.

I think of the Steely Dan song.

16 posted on 12/13/2011 9:54:14 AM PST by dfwgator
[ Post Reply | Private Reply | To 11 | View Replies]

To: SeekAndFind

At least one retailer that I know about missed it’s Black Friday target, but made it up over the five day (Thanksgiving through Cyber Monday) shopping weekend by doing unexpectedly well online.


17 posted on 12/13/2011 10:03:22 AM PST by Bubba Ho-Tep ("More weight!"--Giles Corey)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

-——but not for price changes,-——

That is the meat and potatoes of the report.

The sales were greater because of inflation. the prices of stuff rose, not the volume of goods sold


18 posted on 12/13/2011 10:10:55 AM PST by bert (K.E. N.P. +12 ..... Crucifixion is coming)
[ Post Reply | Private Reply | To 1 | View Replies]

To: HIDEK6
Hint: Stop calling it "Black" Friday.

In retail lore, it's the day that the books (store accounts) turn from red to black.

19 posted on 12/13/2011 10:11:36 AM PST by Mycroft Holmes (Returned for regrooving...)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Mycroft Holmes
I know that.

It's also the day the stock market crashed in 1929.

20 posted on 12/13/2011 10:13:59 AM PST by HIDEK6
[ Post Reply | Private Reply | To 19 | View Replies]

To: SeekAndFind

The entire gummit has turned into a Politboro.

Pray for America


21 posted on 12/13/2011 10:15:14 AM PST by bray (Hope and Change to Hate and Anger)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

How about this? Unless you have the money to live for 5 years without working, don’t buy much for Christmas.


22 posted on 12/13/2011 10:18:26 AM PST by FightThePower! (Fight the powers that be!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mycroft Holmes

It was an inside baseball bit of black humor that the media got ahold of and it became ubiquitous. I bet they do the green Friday thing. Any chance to speak the name of the new color that has replaced red is taken.


23 posted on 12/13/2011 10:20:43 AM PST by ichabod1 (Mr Newt!)
[ Post Reply | Private Reply | To 19 | View Replies]

To: bert
Particularly in the case of Best Buy, but relevant to other retailers as well (especially Target), the apparent success of Black Friday was based on huge numbers of customers and initial sales figures. The problem was that these customers were only buying the very aggressively marked-down and heavily promoted items, and weren't buying any of the other, full-price, stuff that the loss leader promo items were supposed to lure them to. The margin on what they sold was non-existent.

A lot of these stores got free publicity as local news crews covered the people camping out in front for days. What they didn't report was that, by 2 AM, those stores were ghost towns, many of them looking like a tornado hit.

The problem going forward is that the retailers have basically trained their customers to shop Black Friday at midnight, and to go after the most outrageous, heavily advertised deals. They're realizing that it's craziness, that the toll on margin and on the workers is creating more problems, but no one can figure out a way out of it because they're afraid of letting those customers go someplace else.

24 posted on 12/13/2011 10:27:59 AM PST by Bubba Ho-Tep ("More weight!"--Giles Corey)
[ Post Reply | Private Reply | To 18 | View Replies]

To: Sacajaweau

This “whopping” Black Friday thing was just a continutation of the Let’s Help Obama LIE...unemployment - they lie about it. The DOW, it jumps a hundred points and it’s a resounding rebound indicator that we’ve turned the corner...it drops and it’s somebody else’s fault (anybody but Obama)....unemployment goes up, it’s ‘unexpected’, it goes down, we’ve turned the corner - only to be revised downward on Monday or Tuesday the next week....

When are people going to realize that this government, its officials and the MSM are our enemies, as real as ones in uniforms with guns lining you up against a stone wall.


25 posted on 12/13/2011 10:33:12 AM PST by Gaffer
[ Post Reply | Private Reply | To 2 | View Replies]

To: Gaffer
"When are people going to realize that this government, its officials and the MSM are our enemies, as real as ones in uniforms with guns lining you up against a stone wall."

The sheep will realize it when the ones in uniforms with guns line them up against a stone wall.

26 posted on 12/13/2011 10:46:59 AM PST by Nik Naym (It's not my fault... I have compulsive smartass disorder.)
[ Post Reply | Private Reply | To 25 | View Replies]

To: j_tull

“I’mmmmmmm
Dreeeee-amingggggg of a
Craigslist
Christ-mas”

“With every Craigslist Ad I Scan. . .”


27 posted on 12/13/2011 12:38:02 PM PST by AbolishCSEU (Percentage of Income in CS is inversely proportionate to Mother's parenting of children)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Gaffer

A liberal on my Facebook page is posting that a couple of gas stations in the Denver area are selling gas for under $3.00. I found it for $2.96 at Sam’s the other day. Woohoo, happy days are here again! /s


28 posted on 12/13/2011 4:40:43 PM PST by beaversmom
[ Post Reply | Private Reply | To 25 | View Replies]

To: beaversmom

Keep telling everyone you know this:

GAS WAS $1.85 ON OBAMA’S INAUGURATION DAY.


29 posted on 12/14/2011 1:30:43 AM PST by Gaffer
[ Post Reply | Private Reply | To 28 | View Replies]

To: Gaffer

Holy cow! $1.85! Probably even cheaper here in Denver back then.


30 posted on 12/14/2011 12:39:11 PM PST by beaversmom
[ Post Reply | Private Reply | To 29 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson