November Positive for Many Retailers
The frenzy of Black Friday shopping marked an end to November sales on a mostly positive note for retailers and for the economy.
More than 212 million shoppers crowded into shopping malls on Black Friday, the day after Thanksgiving and the traditional start of the holiday shopping season.
The spending appeared to put shoppers in a good mood because on Nov. 30, the Conference Board, a nonprofit organization, reported its U.S. consumer confidence index rose to 54.1 in November, the highest it has been since June.
Roth Capital Partners analyst Liz Pierce noted more men and teens patronized mall stores during Black Friday, which may have been a factor in the stellar sales performance reported by boardsports fashion chain Zumiez Inc.
The Everett, Wash.–based chain said its November same-store sales increased 20.7 percent compared with the same month last year. Zumiez’s net sales in November totaled $40.2 million, a 26.2 percent increase over last November.
On Dec. 1, City of Industry, Calif.–based Hot Topic Inc. reported its November sales, which were in negative territory. Same-store sales for thecompany declined 2.1 percent, compared with an 11.7 percent decline in November 2009. Hot Topic’s Torrid division, which caters to the large-size customer, had better news. Its November same-store sales were up 1.2 percent over last year.—Andrew Asch
