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Black Friday sales up 6 percent from '05

Consumers proved they were willing to spend more money than they should on Black Friday. Total sales up 6 percent over last year, according to ShopperTrak RCT. We can bet VISA is overjoyed. With the exception of Wal-Mart stores, which reported a miniscule sales decline of 0.1 percent, looks like retailers are doing fine this holiday season.
Quote:
NEW YORK — The nation's retailers had a strong start to the holiday shopping season, according to results announced Saturday by a national research group that tracks sales at mall-based stores. One big exception was Wal-Mart Stores Inc., which said it expects to report same-store sales in November below its already lackluster forecast.

According to ShopperTrak RCT Corp., which tracks total sales at more than 45,000 mall-based retail outlets, total sales rose 6 percent to $8.96 billion on Friday, the start of the holiday shopping season, compared to the same day a year ago.

"Although we anticipated a solid consumer turnout for Black Friday, this data shows an even larger increase than expected as consumers proved they were willing to spend," said Bill Martin, co-founder of ShopperTrak, in a statement.

Wal-Mart, however, estimated it will post a 0.1 percent decline in same-store sales, or sales at stores opened at least a year, in November. That's slightly below its original projections for flat sales for the month, compared to the year-ago period. The results cover the four-week period that ended through Friday. Same-store sales are considered a key indicator of a retailer's health.
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  • November 26, 2006
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