Media Tech Analyst
About this author:
I keep tabs on the what occurs with retail because it is the first sign of consumer weakness, which in my view, gives me a first read into what lies ahead for the media and technology companies, even those solely dependent on enterprise revenues. Doesn't look good. Also, doesn't look good for the online retail names, that is unless the assumption can be made that online is cannibalizing offline sales at an accelerated pace.
From the Wall Street Journal:
From the Wall Street Journal:
U.S. retailers reported some of the weakest sales figures in years for November, which included the Black Friday kickoff to the holiday shopping season.
Gap (GPS) reported a 10% drop in same-store sales, while Macy's (M) fell 13% and Nordstrom (JWN) dropped 16%. Target (TGT) reported a 10% drop, worse than expected, though Black Friday sales were stronger than the rest of the month. But Wal-Mart (WMT) topped estimates on increased store traffic and purchase size.
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This article has 3 comments:
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Pipo
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266 Comments
My Website
Dec 04 05:31 PMBJ stock is up 16% in the last year. Fantastic performance from this retail company.
ceotalk.blogspot.com/
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Stephen Rosenman
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131 Comments
Dec 04 06:53 PM-
CLH
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717 Comments
Dec 05 07:39 AM