Black Friday Begins
(Bloomberg) — U.S. retailers opened their doors at midnight and discounted merchandise as much as 70 percent on the day after Thanksgiving to counter what may be the weakest holiday shopping season in six years.
Individuals may spend an average of $616 on holiday gifts this year, down 29 percent from a year earlier, according to a Gallup Inc. poll. That raises the pressure on chains facing declining consumer confidence and the prospect of a recession.
