They Belieed Black Friday could help... Nope!

http://www.nytimes.com/2008/12/05/business/economy/05shop.html?_r=1&ref=business

“It looks like Black Friday gave a modest boost so instead of sales being miserable they are just terrible,” said Ken Perkins, president of RetailMetrics, a research company. December and beyond will prove a big challenge for retailers, he said, because there is “no near-term catalyst to loosen purse strings.”

My Response: Many retail companies know how many people come out to shop for Black Friday. They believed this year would be no exception. Their knowledge of Black Friday didn't meet the retailers expectation. They believed that by making prices lower than usual, more customers would be tempted to by, little do they know, more people are worried about the recession than they are about a good bargain.