Black Friday breaks spending record
Black Friday, the biggest shopping day of the year and the traditional start of the holiday shopping season, drew more crowds and generated more sales than ever before, according to Chicago-based research firm ShopperTrak.
Retail sales on Nov. 25 increased 6.6% compared to Black Friday in 2010, according to the ShopperTrak National Retail Sales Estimate. The total sales amount was $11.40 billion in retail purchases — the highest figure on record, according to ShopperTrak. Retail foot-traffic rose accordingly, up 5.1% over the same day last year.
"This is the largest year-over-year gain in ShopperTrak’s National Retail Sales Estimate for Black Friday since the 8.3% increase we saw between 2007 and 2006," said ShopperTrak founder Bill Martin. "Still, it’s just one day. It remains to be seen whether consumers will sustain this behavior through the holiday shopping season."
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All American Home Center to close
Downey, Calif.-based All American Home Center is closing after more than 50 years of business.
According to the Downey Patriot newspaper, the retailer hired Gordon Brothers Group to handle the liquidation of inventory, a process that will run into next month.
Owner Tamar Kane issued a statement: "Our customers have shown us great loyalty for decades and we hope they take advantage of these incredible savings on home improvement supplies."
The company’s website no longer showcases merchandise. Instead, a simple message explains: "We are a family owned, single-store business serving the Downey, South Gate area for over 50 Years."
The company was recognized by Home Channel News as a Tools of the Trade honoree during the 2009 Golden Hammer Awards event.
What a sad occasion to see
What a sad occasion to see All American Home Center close. I watched it grow from about 15,000 sq. ft. to its size, watched it survive after Home Depot opened across its parking lot. I wonder why it is closing now.