[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

SCVNews.com | Black Friday Leaves Retailers Seeing Green | 11-29-2011
Inside
Weather
Santa Clarita CA
Cloudy
Cloudy
65°F
 
Calendar
Today in
S.C.V. History
August 16
1947 - Newhall Hardware opens on Spruce Street, now called Main Street [story]


Black Friday spending was up, especially when you include Black Saturday, Black Sunday and the brand new Black Thanksgiving in the whole mix.

Total spending over the four-day weekend reached a record $52.4 billion, up 16 percent from $45 billion last year, according to the National Retail Federation.

For the first time some retailers began sales in the latter part of the day on Thanksgiving while others waited until the stroke of midnight Black Friday.

“It does generate a lot of excitement,” said Kimberly Ritter, associate economist with the Los Angeles Economic Development Corp.

Investors seemed to be excited too as U.S. stocks posted sharp gains Monday after reports of strong Black Friday weekend sales.

The Dow Jones industrial average rose 291 points, or 2.6 percent, the S&P 500 added 34 points, or 2.9 percent, and the Nasdaq composite rose 86 points, or 3.5 percent.

The advance broke a 4-day losing streak for the Dow and seven consecutive days of declines for the S&P 500 and Nasdaq.

According to Ritter, most pre-holiday shopping surveys revealed that consumers planned to spend less. However, post Black Friday figures show spending went up this year.

“If that translates into higher spending over the whole course of the shopping season, that remains to be seen,” said Ritter.

Economists hope to see a lot of procrastinators spend money as Christmas nears, or second round shoppers tempted to come back for more and better deals.

Ritter says last-minute shopping usually benefits consumers, but that might not be the case this year.

“I think retailers worked to keep their inventories a little bit leaner this year. So you won’t have that big rush to clear everything out quite like we saw last year,” Ritter said.

On the jobs front, Ritter says most of the big retailers reported staffing at similar levels to last holiday season, but employment has morphed.

“Some of the retail employment and seasonal hiring we have seen has gone over to online based sales. We have more people being hired at distribution centers, at call centers, warehouses and jobs like that,” said Ritter.

In terms of spending this holiday season, Ritter sees two different forces working against each other. On the one hand consumer confidence is down, households are still under a lot of stress, and debt and unemployment levels are high.

“But at the same time a large percentage of the population is still working and may be taking the holiday season as a time to step back, try not to think about financial difficulties as much and maybe spend a little bit more this year. Feel better about the holiday season and themselves and just kind of relax and take a step back for a little while,” Ritter said.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


LOCAL BUSINESS LINKS
LOCAL BUSINESS HEADLINES
FINANCIALS OF LOCAL INTEREST
MARKETS & METALS
NASDAQ6333.013  chart +0.00%
S&P 5002464.61  chart +0.00%
STOCKS OF LOCAL INTEREST
Bank Santa Clarita17.51  chart +0.00%
Biosolar Inc Com Usd0.0001(post0.042  chart +0.00%
Sierra Bancorp26.13  chart +0.00%
Cu Bancorp (ca)35.80  chart +0.00%
Enable Ipc Corp. Com Stk Npv0.001  chart +0.00%
Flex Ltd. - Ordinary Shares15.81  chart +0.00%
N/aN/A  chartN/A
N/aN/A  chartN/A
Mannkind Corporation1.27  chart +0.00%
Mission Vly Bcp Ca14.00  chart +0.00%
Quest Diagnostics Incorporated106.60  chart +0.00%
Tejon Ranch Co20.26  chart +0.00%
Us Energy Initiative0.0005  chart +0.00%
Wesco Aircraft Holdings, Inc.7.85  chart +0.00%

Apple Inc.161.60  chart +0.00%
At&t Inc.38.16  chart +0.00%
Autonation, Inc.41.75  chart +0.00%
Best Buy Co., Inc.58.97  chart +0.00%
Big Lots, Inc.49.96  chart +0.00%
Barnes & Noble, Inc.7.30  chart +0.00%
Brady Corporation32.50  chart +0.00%
Boston Scientific Corporation26.47  chart +0.00%
N/a24  chart +0.00%
Cbre Group Inc Class A36.13  chart +0.00%
Carnival Corporation68.71  chart +0.00%
Comcast Corporation41.50  chart +0.00%
Costco Wholesale Corporation156.88  chart +0.00%
Curtiss-wright Corporation95.65  chart +0.00%
Cvs Health Corporation79.11  chart +0.00%
Cemex, S.a.b. De C.v. Sponsored9.26  chart +0.00%
D.r. Horton, Inc.36.78  chart +0.00%
Walt Disney Company (the)101.51  chart +0.00%
Edison International79.92  chart +0.00%
Hyatt Hotels Corporation Class 56.90  chart +0.00%
Home Depot, Inc. (the)150.17  chart +0.00%
Kb Home23.15  chart +0.00%
Kroger Company (the)23.11  chart +0.00%
Lennar Corporation Class A54.07  chart +0.00%
Laboratory Corporation Of Ameri156.76  chart +0.00%
N/aN/A  chartN/A
N/aN/A  chartN/A
Lowe's Companies, Inc.74.30  chart +0.00%
Marriott International100.40  chart +0.00%
Mcdonald's Corporation157.62  chart +0.00%
Mitsubishi Ufj Financial Group,6.32  chart +0.00%
Netflix, Inc.168.50  chart +0.00%
Office Depot, Inc.4.25  chart +0.00%
Rite Aid Corporation2.31  chart +0.00%
Rexford Industrial Realty, Inc.28.31  chart +0.00%
Regal Entertainment Group Class16.74  chart +0.00%
Ross Stores, Inc.53.03  chart +0.00%
Republic Services, Inc.64.56  chart +0.00%
N/aN/A  chartN/A
Starbucks Corporation53.15  chart +0.00%
Smart & Final Stores, Inc.7.35  chart +0.00%
Sears Holdings Corporation8.63  chart +0.00%
Six Flags Entertainment Corpora53.80  chart +0.00%
Sonova N154.00  chart +0.52%
Staples, Inc.10.19  chart +0.00%
Sunpower Corporation9.80  chart +0.00%
Target Corporation54.35  chart +0.00%
Time Warner Cable Inc209.56  chart +0.00%
Ulta Beauty, Inc.237.67  chart +0.00%
Walgreens Boots Alliance, Inc.81.13  chart +0.00%
Waste Connections, Inc.64.25  chart +0.00%
Whole Foods Market, Inc.41.79  chart +0.00%
Waste Management, Inc.75.70  chart +0.00%
Wal-mart Stores, Inc.80.77  chart +0.00%
Woodward, Inc.69.70  chart +0.00%
CURRENCY CONVERTER

Latest Additions to SCVNews.com
1947 - Newhall Hardware opens on Spruce Street, now called Main Street [story]
Representative Steve Knight, R-Palmdale, sat down with Santa Clarita law enforcement officials to discuss the current state and future role of policing in the SCV.
Knight, Law Enforcement Officials Hold Roundtable Discussion
From the Facebook page of Shirley Miller, public information officer, social media manager at Santa Clarita Valley Sheriff's Station: LASD Carjacker Captured (with some help).
Community Member Tackles Suspected Carjacker
A funeral service for William Clinton Cloyd Sr., a renowned architect and home builder in the Santa Clarita Valley, is being held Wednesday, August 16 in Eternal Valley’s Upper Chapel.
Funeral Services Wednesday for SCV Homebuilder, Architect William Cloyd Sr.
Tonight on SCV NewsBreak, deputies are looking for a hit-and-run suspect. Plus, county supervisors have approved a motion to a establish a Blue Ribbon Commission on public safety.. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Tuesday, August 15, 2017
To kick-start its celebration of the 10th Anniversary of the revival of TMU Theatre Arts, the school is bringing back a favorite.
TMU Celebrates 10th Anniversary Revival of Theater Arts
College of the Canyons is hosting 2017 Professional Development Week — a week of seminars, lectures, and workshops concerning student development and teaching.
COC Professional Development Week Underway
In the fall, College of the Canyons will offer several Associate Degrees for Transfer (AD-T) at the Canyon Country campus, including Business Administration, Psychology, and Sociology.
COC Will Now Offer “Degrees With a Guarantee”
On a motion by Supervisors Kathryn Barger and Janice Hahn, the Board of Supervisors voted 3-0, with Supervisor Mark Ridley-Thomas abstaining, to establish a “Blue Ribbon Commission on Public Safety” to explore innovative solutions to criminal justice challenges resulting from statewide reform
Supes Approve Blue Ribbon Commission on Public Safety
If left uncontrolled, diabetes can lead to some really bad outcomes, including kidney problems, glaucoma and other eye disorders, foot ulcers, amputation of feet or legs, stroke, diabetic coma, and even death.
Medicare and Your Diabetes | Commentary by Greg Dill
In recent weeks, the Greater Los Angeles County Vector Control District (GLACVCD) has seen a marked increase in West Nile virus (WNV) activity across its jurisdiction.
County Seeing Increase in West Nile Virus Activity
Arroyo Seco Junior High School will be celebrating its 50th Anniversary on Friday, September 1, with a midday ceremony and festivities.
Sept. 1: Arroyo Seco Junior High Celebrates 50th Anniversary
A veteran investigator of sex crimes in Santa Clarita discussed concerns created by coverage and social media, as part an ongoing KHTS News series.
Social Media Poses New Concerns for Sex Crimes Investigations
On Friday, August 18th, 2017, the California Highway Patrol Newhall Area Office will be conducting a sobriety checkpoint in the unincorporated area of Los Angeles County.
DUI Checkpoint Scheduled for Friday
Communication With All Life University and founder Joan Ranquet to present upcoming workshops in learning animal communication, energy healing techniques for animals, and death & the art of dying.
Oct. 6-15: Animal Communication Workshops
Join the VIA Education Foundation and the Valley Industry Association in mentoring today's high school students to prepare them for their future.
VIA School Program Looking for Facilitators to Mentor Students
The city of Santa Clarita will host the 23rd Annual River Rally Cleanup and Environmental Expo on Saturday, September 23, 2017 from 8:00 a.m. to 11:00 a.m.
Sept. 22-23: Registration Deadline, Annual River Rally Cleanup
In an effort to make its art holdings more accessible to the public, The Broad, a contemporary art museum in Downtown Los Angeles, created The Un-Private Collection, an ongoing series of conversations with artists whose work is part of The Broad collection.
Aug. 16: CalARTS Alum Featured Artist at The Broad
The city of Santa Clarita has released the list of productions currently ongoing.
Reality TV, Student Projects Among Those Currently Filming in SCV
The Boy Scouts of America Santa Clarita chapter is pairing with the Veterans Services Collaborative to add a unique twist to its annual fundraiser.
Boy Scouts Local Chapter to Honor Veterans at Annual Fundraiser
Trey Killian’s four-game win streak came to an end as the Lancaster JetHawks fell to the San Jose Giants, 10-3, in the series opener on Monday night at Municipal Stadium.
Killian Winning Streak Ends as JetHawks Fall Short to Giants
The California League announced Monday that Lancaster JetHawks infielder Garrett Hampson has been named the California League Player of the Week for the week of August 7-13.
JetHawks Hampson Named Player of the Week
A man with a gun ran from the scene of a car slammed into a utility box Tuesday afternoon, near Wendy’s on Bouquet Canyon Road, according to Sheriff’s Station officials.
Deputies Investigating Hit-and-Run; Man With Gun
1849 - Eight-pound gold nugget found in San Feliciano Canyon (Val Verde/Piru area) [story]
Tonight on SCV NewsBreak, a fatal crash early Sunday led to the arrest of one man. Plus, fun in the sun at this county wide swim meet in Santa Clarita. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Monday, August 14, 2017
The 2017 "Cocktails on the Roof" benefit for the non-profit WiSH Foundation is set for the rooftop of Macy's parking garage at Westfield Valencia Town Center on Friday, August 25 from 8 p.m. to 11 p.m.
August 25: ‘Cocktails on the Roof’ to Benefit WiSH Foundation
The L.A. County Sheriff’s Department's annual "Fun in the Sun" Chili Cook Off benefitting the Special Olympics is set for Saturday, October 14 from 11 a. to 4 p.m.
October 14: ‘Fun in the Sun’ Chili Cook Off for Special Olympics
Here's a roundup of Santa Clarita arts-related events for August 16-18, 2017.
August 16-18: Santa Clarita Arts Calendar
Two suspects in court Monday were charged with murder in the death of Ivan Solis in Canyon Country last month.
2 Suspects Charged with Ivan Solis Murder
A man was arrested after Santa Clarita Valley Sheriff's Station deputies responded to a domestic violence call in on Reuther Avenue near the Skate Park in Canyon Country Monday afternoon, according to station officials.
Man Arrested in Reported Domestic Disturbance
The SCV Sheriff's Station Suppression Team deputies arrested a 26-year-old man from San Francisco who was panhandling on The Old Road in Stevenson Ranch on Saturday, according to station officials.
Panhandler Arrested on Warrants in Stevenson Ranch
The Santa Clarita Public Library invites residents to celebrate the upcoming total solar eclipse on Monday, August 21 with two free events at the Old Town Newhall Library.
August 18 & 21: Solar Eclipse Events at Newhall Library
The SCV Sheriff's Foundation and SCV Search & Rescue are holding their 11th annual golf tournament fundraiser at TPC Valencia on Monday, September 18.
September 18: SCV Sheriff’s Foundation Golf Tourney
Purposeful Aging Los Angeles launched a landmark survey today to gather feedback from county and city of Los Angeles residents that will guide the development of an Age-Friendly Action Plan for 2018-2021 for the region.
Purposeful Aging L.A. Launches Landmark Survey
California State University, Northridge’s newest academic department, the Department of Criminology and Justice Studies, launches its new major this fall.
CSUN Launches New Department of Criminology and Justice Studies
A unique Native American art exhibit titled “Neshkinukat: One Who Has Relatives” opens in the Old Town Newhall Library Community Room on August 25, and will be on display there through January 5.
August 25: ‘Neshkinukat’ Native American Art Show