廣告
香港股市 已收市
  • 恒指

    16,541.42
    +148.58 (+0.91%)
     
  • 國指

    5,810.79
    +82.66 (+1.44%)
     
  • 上證綜指

    3,041.17
    +30.50 (+1.01%)
     
  • 滬深300

    3,537.48
    +16.52 (+0.47%)
     
  • 美元

    7.8254
    -0.0002 (-0.00%)
     
  • 人民幣

    0.9222
    -0.0006 (-0.07%)
     
  • 道指

    39,807.37
    +47.29 (+0.12%)
     
  • 標普 500

    5,254.35
    +5.86 (+0.11%)
     
  • 納指

    16,379.46
    -20.06 (-0.12%)
     
  • 日圓

    0.0515
    +0.0000 (+0.02%)
     
  • 歐元

    8.4371
    -0.0035 (-0.04%)
     
  • 英鎊

    9.8690
    -0.0070 (-0.07%)
     
  • 紐約期油

    83.11
    -0.06 (-0.07%)
     
  • 金價

    2,254.80
    +16.40 (+0.73%)
     
  • Bitcoin

    69,637.16
    -995.61 (-1.41%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

Black Friday: Here are some retail winners and losers

The Black Friday start to the crucial holiday shopping season has been mixed at best, and that means there are some distinct early and winners and losers, analysts say.

"Lululemon, A&F banner, American Eagle Outfitters, and Victoria’s Secret banner emerged as the biggest winners this Black Friday, while Hollister, Gap banner, & Banana Republic were relative losers, in our view," the Morgan Stanley retail team led by longtime analyst Kimberly Greenberger wrote in a recent note.

According to Morgan Stanley's findings, the winning retailers had a few key trends play out on the long holiday weekend.

廣告

"These strong traffic results were achieved despite 1) similar or lower year over year discounting levels, and/or 2) discounting activity below total sector averages," the analysts said. "In our view, this means these retailers’ assortments likely resonated with consumers & allowed these banners to drive relatively more profitable Black Friday revenue."

As for the losing retailers, the analysts added that they were handed weak store traffic at a time of increased discounting, which may ultimately lay the foundation for poor fourth-quarter profits.

By and large, retailers are off to a so-so beginning to the holidays as consumers balk at inflationary prices for merchandise and spend more on experiences such as dining out and travel.

U.S. retail sales on Black Friday were up 12% year-over-year excluding automotive, according to Mastercard SpendingPulse data. That was below Mastercard's projection of 15% growth.

Adobe, which tracks online purchases, said Black Friday weekend spending rose 4.4% from the prior year to $9.5 billion. For the holiday season to date (Nov. 1 to Nov. 27), consumers have spent $96.42 billion online, up only 2.1% year over year.

COMMERCE, CA - NOVEMBER 24: Angelica Rippee, 23, of Buena Park, along with other shoppers waits to get into the lululemon store to enjoy exclusive Black Friday deals on Thanksgiving night through the holiday weekend at the Citadel Outlets on Thursday, Nov. 24, 2022 in Commerce, CA. Citadel Outlets will open its doors to shoppers beginning at 8:00 p.m. on Thanksgiving for an all-night shopping party! Select stores will open their doors as early as noon, while most stores will open at 8:00 p.m. on Thanksgiving through 11:00 p.m. on Black Friday, staying open for over 27 hours straight. All stores will welcome shoppers at 6:00 a.m. on Black Friday and extended hours will continue through the weekend. (Gary Coronado / Los Angeles Times via Getty Images)
Angelica Rippee, 23, of Buena Park, waits with other shoppers to get into the Lululemon store to enjoy exclusive Black Friday deals at the Citadel Outlets on Thursday, Nov. 24, 2022, in Commerce, CA. (Gary Coronado / Los Angeles Times via Getty Images) (Gary Coronado via Getty Images)

"The holiday weekend data points from industry sources seemed in-line to positive overall with online growth outperforming store performance," Citi retail analyst Steven Zaccone noted, echoing the mixed data out of Adobe and Mastercard. "Our specific field work showed in-store traffic was a bit underwhelming as most store associates spoke to traffic down year over year."

Zaccone called out increased promotional intensity at Best Buy (BBY), leading him to reiterate a Sell rating with a $72 price target on the stock.

"Consumers were more targeted with their store visits vs. casual browsing and likely prioritized online shopping for bargain hunting," Zaccone added on the retail sector more broadly. "Promotions from our retailers looked flattish-to-slightly deeper year over year."

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Click here for the latest trending stock tickers of the Yahoo Finance platform

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube