Thu, Nov 26 2009
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Local retailers say sales relatively good Although the NRF is projecting a holiday sales growth of 2.2 percent this year for an estimated gross of $470.4 billion, Wall Street investors still expect retailers will suffer this holiday shopping season as nervous consumers grow more restrained in their spending this year.
But some retail stocks rose Friday as investors hoped the predictions have been overly gloomy. Macy’s Inc. added 5.6 percent, though some discounters, like Wal-Mart Stores Inc., slipped. ‘Tragic situation’ At a Wal-Mart in Valley Stream on Long Island, “out-of-control” Black Friday shoppers broke down the doors at a 5 a.m. sale. A store employee died and a pregnant woman was sent to the hospital. The Associated Press reported that about 2,000 people were gathered outside the store doors when the impatient crowd knocked the man to the ground as he opened the doors. “This crowd was out of control,” said Nassau police spokesman Lt. Michael Fleming. He described the scene as “utter chaos.” Other workers were trampled as they tried to rescue the man, and customers shouted angrily and kept shopping when store officials said they were closing because of the death, police and witnesses said. At least four other people, including a woman who was eight months pregnant, were taken to hospitals for observation or minor injuries, and the store closed for several hours before reopening. Police said criminal charges were possible in the case, but Fleming said it would be difficult to identify individual shoppers. Wal-Mart Stores Inc., based in Bentonville, Ark., called the incident a “tragic situation.” The Associated Press contributed to this report. Bottom line The National Retail Federation will release the results of its Black Friday survey at 3 p.m. Sunday on its Web site www.nrf.com/press/. 
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