New York City, New York – (StockNewsDesk) – 11/29/2014 — Black Friday is usually the busiest year for the retail companies as well as shoppers. However, this year, the crowd was relatively low. While at few places the response was over-whelming, at other places, sales took off really slow. Stock prices of a couple of retail companies were up in the range of 2% and 4%. Walmart faced a major hurdle as most of the workers came down on the street to protest the low pay they have received.
Since 2005, in terms of sales, Black Friday has always been the busiest day. But this year, companies are expected to have a Super Saturday. Companies like Macy’s saw a crowd of 15,000 people lined up for shopping. The Street, seeing such a response parked monies in retail companies as a result of which the share price of Macy’s Walmart and Target increased in the range of 2% and 3%. Online sales from Black Friday were up 8% year over year (YoY) while sales increased 14.3% YoY. The National Retail Federation expects the sales from Thanksgiving Day and Black Friday to touch the highest level in last 3 years. Retail sales from November and December might increase nearly 4% to $617 billion. Holiday sales which took place in 2013 saw an increase in the retail sales of 3%. Analysts expect the retailers to spend more since the crude oil prices have plummeted more than 10%, in the bear market.
Walmart Welcomed by 500 Protestors
A strong crowd of more than 500 people greeted the largest retail company in the world with protests against the low wages provided by the company. Walmart employs nearly 1.3 million people or 10% of the country’s workforce with an average pay of around $12 an hour without any guarantee or assurance of permanent employment. Protestors demanded a pay of a minimum of $15 an hour with permanent employment. The protestors had originally planned to display protests to 1600 stores.
It is the third consecutive year that workers have protested just a day after the Thanksgiving Day. In January, Walmart had faced allegations, from National Labor Relations Board, of carrying out illegal activities and firing many employees on account of protests. The worst hit areas in the United States were California, Florida, Illinios, Lousiana, Maryland, Massachusetts, Minnesota, Oregon, Pennsylvania, Texas, Virginia, Wisconsin, and Washington D.C. Despite such problems Walmart said that the company saw highest sales since earlier year’s Cyber Monday.