Piper Jaffray Publishes Report on Black Friday Retail
In its report, Piper Jaffray writes, “Early results from Black Friday weekend point to a strong start to the holiday season. According to ShopperTrak, Black Friday sales increased 6.6% over last year which was the largest increase since 2007. Additional store hours, including many retailers opening at midnight, and robust e-commerce growth were key contributors to the increase. While we are encouraged by the strong start, Black Friday represents only 6% of the holiday season and time will tell how much of the increase may have been due to pull-forward of demand.”
Companies included in the Piper Jaffray report are: Abercrombie & Fitch (NYSE: ANF), American Eagle Outfitters (NYSE: AEO), Express (NYSE: EXPR), Target (NYSE: TGT), Kohl's (NYSE: KSS), JC Penney (NYSE: JCP), Best Buy (NYSE: BBY), and hhgregg (NYSE: HGG)
