Wal-Mart's Black Friday Analysis: Not Good
From MarketWatch:
CHICAGO (MarketWatch) - Wal-Mart Stores Inc. shares shifted to negative territory in midday trading Tuesday after a senior executive spooked investors about the post-Thanksgiving sales momentum.Senior Vice President Jay Fitzsimmons, speaking at a Webcast J.P. Morgan conference, said that "there was a slight drop in the slope" of sales on Saturday compared with the thrust of Black Friday's sales.
Fitzsimmons said that Friday's sales bonanza was powered by deep discounts on items like TVs and digital cameras in what Wal-Mart called a sales "blitz" day. By Saturday, however, Wal-Mart ran out of many of those items, leading to the slight decline.
Posted by Brendan - November 30, 2005 09:54 AM - In The News