It probably wasn't the Black Friday shopping weekend that most retailers had hoped for -- but an analyst's report said American Eagle Outfitters had a better-than-average performance.
American Eagle Outfitters (NYSE: AEO) had "very strong traffic and conversion at AEO" on Black Friday, according to a report released Monday by Sterne Agee analyst Ike Boruchow and Tom Nikic. It said American Eagle had a 50 percent off storewide deal this year, compared to 40 percent a year ago.
What about the weekend for the entire specialty retail industry.
"This year Black Friday gave us a taste of what to expect for the remainder of the holiday selling season: intense competition, deep discounts, and choppy mall traffic. Earlier store openings drove heavy traffic, which dissipated and then bounced through the day," Boruchow wrote.
Sterne Agee said the stores opening on Thursday brought more customers to the stores on Thanksgiving evening.
The National Retail Federation said in a report Sunday that overall holiday spending during the Thanksgiving Weekend were down but that there were more shoppers throughout the weekend. Paul J. Gough is digital producer at the Pittsburgh Business Times. Contact him at pgough@bizjournals.com or 412-208-3827. You can also follow him on Twitter.
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