Retail spending for Black Friday was up 0.5 percent, about as expected. Traffic was much better than last year, but the average person in that mall spent a bit less.
Where do we go from here?
One hedge fund specialist in retail had this to say to me: "Retail is probably dead money for a month or so as a sector because the focus is shifting to next year and there isn't much of an interest in the space for the first quarter. The perception is that electronics and internet shopping did better than mall stores and dept stores."