Black Friday means deep discounts for shoppers — and intense pressure for retailers
Major retailers are under intense pressure to deliver on Black Friday after several of them reported a slowdown in sales heading into the do-or-die holiday shopping season.
Macy’s, Target, Kohl’s, Gap and Nordstrom spoke about a lull in sales in late October and early November. Target cut its holiday-quarter outlook and Kohl’s pulled its forecast, citing the slow sales. Macy’s CEO Jeff Gennette said shoppers kept visiting its stores and website during that lull, but the browsing did not turn into buying. Best Buy CEO Corie Barry said shoppers are showing more interest in sales than usual.
Those results illustrate an emerging...