They ARE already, don't you read? http://www.marketwatch.com/news/sto...2EC5F-4058-46A3-B8F4-32ABF67831D9}&dist=msr_1 "Black Friday sales chalk up 3% gain from last year Big discounts, early openings boost receipts despite economic worries" Edit: Oh, you quickly took the post down.
Only reason sales were up is due to huge price drops, after this season is over many many retailers will be filing chapter 11. The hype behind black friday is just crazy.
From the New York Times: "Deep Discounts Draw Shoppers, but Not Profits Sales in the nationâs stores were strong over the weekend, to the relief of retailers that had been expecting a holiday shopping period as slow as the overall economy. But while spending was up, there were troubling signs in the early numbers. The bargains that drove shoppers to stores were so stunning, analysts said that retailers â already suffering from double-digit sales declines the last two months â would probably see their profits erode even further. Also, after shoppers flooded stores on Friday, foot traffic trailed off significantly on Saturday and Sunday." The outlet mall I went to Saturday evening had plenty of parking and few shoppers.
BTW, the fed has just come up with a new holidays PSA campaign to promote continued excessive personal spending here in america.......... "SPEND TIL THE END!" :eek:
Word on the Street is that this year's 'Black Friday' was bloody and is likely to get bloodier as margins trickle in. Who knows, though.
No, retailers were slashing prices to dump inventory. I think it will get even more interesting as the month goes on. Lots of bargains, grab them while the retailers are in business.
Could be that some retailers would rather discount current sale prices rather than declare BK and offload inventory at significantly lower prices...
Or maybe they are doing what every single shop does when they have too much inventory and are running low on cash flow. They sell to generate cash rather than generate profits. Just like Circuit City did to even get enough cash to declare BK.
If substantially slashing prices to generate cash flow is "part of a very bullish economic process," then what would qualify as being part of a very bearish economic process?