Stocks in major retailers such as JC Penney (
), Target (
) and Macy's (
) were mixed midday as the hype around Black Friday shopping
continues, even though retail analysts are predicting the weakest
holiday sales season since 2009.
As many as 140 million people planned to shop in stores and
online on Thursday through Sunday, the National Retail Federation
said, down from 147 million last year. There are also six fewer
days this year between Thanksgiving and Christmas, the time of year
when retailers get the bulk of their sales.
J.C. Penney stock rose as much as 3% to $10.30 early in the
day's trading session but is now up at $10.15. The company opened
its doors at 8 p.m. on Thanksgiving this year, its earliest Black
Friday opening ever.
) has dropped after the initial euphemism tied to its Black Friday
kickoff on Thursday boosted the stock by 1.2% in earlier trading.
The company said the kickoff was very successful, with traffic
strong across all its channels. The stock was recently trading down
0.5% at near $64, but coming back off day lows.
On Target.com, where nearly all doorbusters were available on
Thanksgiving Day, traffic and sales were among the highest TGT has
seen in a single day. In the early morning hours after the
doorbusters first became available, Target.com saw two times more
orders versus last year at that time.
) stock has gained 0.3% and hit record highs. The giant discount
retailer said it had record-breaking Black Friday results, without
giving sales numbers. WMT said it had 22 million customers on
Thanksgiving Day last year.
This year, it had "even more customers," the company said. It
processed more than 10 million register transactions in its stores
from 6 p.m. to 10 p.m., and its website processed nearly 400
million page views on Thanksgiving Day, although the company didn't
provide sales results for the transactions or information on how
many page views resulted in transactions.
Macy's, meanwhile, is now down 0.2% after gaining 1.4% earlier
in the trading session. But at least it is back above a day low
$53.08. Amazon jumped 1.8% to new record highs.
Best Buy (
) gained 2% to near $40.40.
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