A record start for discount retailers
Wal-Mart achieved record-breaking results during its Black Friday event this year, helped by exclusive savings on gaming stations such as the new Sony PS4 and Microsoft's Xbox One . In fact, the discount chain said it was the best Black Friday in the Wal-Mart's history. More than five million customers participated in Wal-Mart's One-Hour Guarantee promotions on Black Friday , while more than 22 million customers shopped at the company's stores on Thanksgiving Day .
Moreover, Wal-Mart sold two million flat screen TVs, 1.4 million tablet devices, 2.8 million towels, and 300,000 bicycles on Black Friday . Not impressed yet? Target also generated strong sales during the biggest shopping day of the year.
Target said both sales and traffic at its stores were among the highest the retailer has ever seen in a single day . By mid-morning on Black Friday, Target's 1,797 U.S. stores had sold out of products such as Apple's (NASDAQ: AAPL ) new iPad Air, several models of large screen TVs, and Nintendo's 3DS XL gaming devices .
1 hidden winner among the discount chains
Overall, Black Friday sales were down 13.2% from last year, according to ShopperTrak . However, 141 million Americans still shopped Black Friday deals both in stores and online this year, according to the National Retail Federation . Moreover, if the initial results from Wal-Mart and Target are any indication, it should be a strong holiday shopping season overall for retailers. These sales figures also bode well for tech giant Apple.
If reports from InfoScout are correct, Apple's 16GB iPad Air was the top selling device at Wal-Mart and Target stores on Black Friday . ...more