Wal-Mart Sets Record for Sales After Thanksgiving
Wal-Mart Stores Inc., the world's largest retailer, rang up record sales the day after Thanksgiving, suggesting that holiday shoppers will be a price-conscious bunch.</br></br>The discount chain yesterday reported $1.43 billion in sales at its domestic stores, supercenters and neighborhood markets on Friday. That was its highest single-day total ever, outpacing the $1.25 billion showing at the same time last year, when consumers were still stunned from the Sept. 11 attacks.</br></br>The Bentonville, Ark., company is the only major discount chain so far to report sales for "Black Friday," the official start of the holiday shopping season and a day retailers traditionally have used to gauge whether they will go into the black for the remainder of the year.</br></br>Like Wal-Mart, many retailers and mall operators reported strong foot traffic Friday. But they did not know whether the turnout translated into sales, or whether it will stay strong for the remainder of the selling season.</br></br>America's Research Group in Charleston, S.C., presented some evidence that shoppers on Friday did make purchases. After scanning crowds at 15 malls nationwide, the research firm found 3 out of 5 people were carrying shopping bags, compared with 2 out of 5 a year ago.