Americans welcomed the chance to start Black Friday shopping earlier than ever in the biggest retail rush of the year, but some raised doubts over whether discounts were as generous as last year or better than they could get online.
Terry Lundgren, chief executive of Macy’s, said of his department stores: “I think [sales] will be similar to last year for this weekend.”
While stores tried to outdo each other with bargain advertisements, Michael Appel of AlixPartners, a consultancy, said it would not be a surprise to find smaller discounts than in 2011 as cautious retailers had lean inventories for the entire holiday season.
Print 20:12, 23 Nov 2012 - US Equities - Source: FT
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