Lousy November Retail Sales Numbers Prove Black Friday Headlines Were a Joke
Best Buy's (BBY) spectacular flame-out (see: Best Buy: Weak Sales Weak Margins More Buybacks!) wasn't the only retail disappointment this morning -- the Commerce Department said that November retail sales rose just by 0.2% versus a consensus estimate calling for a 0.6% gain. That painted an ugly picture for retail overall but it made an even more important point about the sensationalist headlines around the great margin-sucking 'holiday' that is Black Friday: They can now be disregarded. (See: What Does Black Friday's Creep on Thanksgiving Say About American Retail?) If you rewind the clock a few weeks you may ...
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