Gadgets and toys emerged as winners this Black Friday as retailers of laptops, flat-screen TVs and toys across the US reported "strong" shoppers’ number and high sales. The most popular items grabbed by consumers included HD TVs, computers, winter coats and Zhu Zhu Pets, the very popular robotic hamsters.
It has been reported that not only did the sales meet the expectations pegged by both analysts and retailers, but managed to beat them by a substantial margin. While Wal-Mart pulled in customers with $298 Hewlett-Packard laptop computers and other specials, Best Buy Inc. lured shoppers with $547.99 42-inch Samsung flat-panel TVs.
"The surprise news is that they are actually buying for themselves as well, due to pent-up demand and frugal fatigue. They are saying ‘Let’s loosen up the purse strings a little bit,’ but it is still cautious spending", said Marshal Cohen, Chief Industry Analyst with New York based market research firm, NPD.
Despite the strong sales figures reported, shares of Wal-Mart and Best Buy fell by 33 cents and 43 cents on the NY Stock Exchange, respectively, with Wal-Mart trading at $54.63 yesterday, and Best Buy at $42.83. But these do not seem to be worrying the retailers too much as they look forward to strong Christmas sales.
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