Retailers jump after strong Black Friday, stocks little changed

Retailers jump after strong Black Friday, stocks little changed

Adobe projected internet sales would still reach a record $5bn by the end of the night, with online retailers forecast to rake in an additional $6.6bn on Cyber Monday. Sears Holdings Corp. saw same-store sales fall 17 percent at its flagship chain last quarter and 13 percent at its Kmart brand.

There are, of course, many ways to play an anticipated strong holiday season for the retail sector, but the best way may be to not get too involved in trying to pick winners and losers.

Amazon nabbed almost half of all Black Friday orders - between 45 and 50 percent, a new report from GBH Insights notes - making over a billion dollars within the 24-hour period last Friday.

With more than $30 billion in sales so far this month, it's impossible to ignore the online shopping revolution.

According to figures from Adobe Analytics, customers spent a record-high $5 billion on Black Friday alone, compared to $3.34 billion a year ago and according to marketing firm Criteo, around 40% of sales were made on mobile devices.

USA consumers kicked off the holiday shopping season with an online frenzy, breaking spending records over Thanksgiving and on Cyber Monday.

Macy's credit card processors stop working on Black Friday
GALLERY: Black Friday crashes in New York

About 69 percent of Americans, or 164 million people, intend to shop at some point during the five-day period from Thanksgiving to Cyber Monday, according to a survey released by the NRF. At the same time, some analytics companies are reporting small decreases in Black Friday foot traffic.

With the festive season now truly upon us thanks to the annual Black Friday kickoff, Christmas shopping is now in full swing.

The day has become more about the experience of shopping, rather than the actual discounts, said David Bassuk, co-head of retail consulting at AlixPartners Llp.

"I like to see what I'm buying". I have pointed this out here before, but while people obsess about the online versus bricks and mortar debate, and focus on US retail outlets there are two companies that will benefit from increased retail activity wherever in the world it is found whether it is physical or virtual. Shoppers started queuing up as early as 5:45 p.m. on Thanksgiving.

"Customers today want to go to a store-the sights, the smells, the sounds", CEO Jeff Gennette said in an interview last Friday.

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now. and Adobe Systems wasn't one of them!

Media firm backed by Koch brothers buys Time magazine
Meredith's bid for Time for $18.50 per share, with the deal valued at $1.85 billion excluding debt. Time has been reeling under the same pressures facing the rest of the magazine industry.

Related Articles