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Wednesday, November 26, 2008

Sam's Club is optimistic about Black Friday 2008

Sam’s Club, a subsidiary of the retail giant, Wal-Mart Stores, Inc. (NYSE:WMT) expresses optimism about the upcoming “Blitz” Friday aka Black Friday. In an interview with Reuters, Doug McMillon, CEO Sam’s Club said: 

"In the past few weeks, people have been waiting for (Black) Friday and the prices that they're going to see between now and Christmas,…We're going to have enough to take care of blitz morning,"

Due to the ongoing financial crisis, people are not so much excited. The 2008 Holiday season will be the worst for retailers in the last two decades. The October retailers report showed a disastrous result for the retailers. Consumers have become frugal. However, Mr. McMillon sees this as an opportunity for higher sales. He said, shoppers who are now coming to their stores are waiting for Black Friday when product prices will go down. On Black Friday, Sam’s Club will open up at 5 a.m. and offer shoppers free breakfast. Mr. McMillon said that the main advantage of Sam’s Club is that it is a big box retailer and comes with a wide range of products. This is why people would come to their stores.

Mr. McMillon predicts that consumer electronics such as digital cameras, camcorders, and Blackberry smartphone are going to be the top favorites among shoppers. If you are still not interested then here is a motivator for you: Sam’s Club is going to offer Wii Fit video game for under $79. 

Related articles:

Forbes

Market Watch

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