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Survey: 138 million shoppers expected to hit stores Black Friday weekend

BY CSA STAFF

Washington, D.C. — A survey released Thursday by the National Retail Federation and conducted by BIGresearch found that up to 138 million people plan to shop Black Friday weekend (Friday, Saturday and Sunday), surpassing the 134 million who planned to do so last year.

According to the NRF 2010 Holiday Consumer Intentions and Actions Survey, which polled 8,778 consumers, approximately 60 million people say they will definitely hit the stores while another 78 million are waiting to see if the bargains are worth braving the cold and the crowds.

“The rules for Black Friday have changed significantly,” said NRF President and CEO Matthew Shay. “Instead of waiting until Thanksgiving Day to announce their promotions, many retailers are getting shoppers excited about Black Friday by offering sneak peeks of deals in advance, using social media to create buzz, or teasing upcoming deals on their websites.”

According to a separate Shop.org eHoliday survey, conducted by BIGresearch, more than half of retailers (54.9%) will send a special email to customers about Black Friday deals and 39.2% will use their Facebook page to reach out to shoppers. Additionally, 31.4% of retailers will utilize their website’s homepage, and 21.6% will use Twitter to announce and promote Black Friday deals.

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FINANCE

William Sonoma Q3 profit rises sharply

BY CSA STAFF

San Francisco — Williams-Sonoma reported Thursday that net income for the third quarter rose to $36.5 million, up from $7.3 million.

The company, which runs Williams-Sonoma and Pottery Barn, also recorded a 12% revenue rise to $816 million, beating Wall Street expectations of $799.5 million.

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FINANCE

GameStop earnings rise 4.8% in Q3

BY CSA STAFF

Grapevine, Texas — GameStop Corp. reported Thursday that net earnings for the third quarter increased 4.8% to $54.7 million, from $52.2 million in the prior year quarter.

Total sales increased 3.5% to $1.90 billion.

U.S. segment same-store sales were 5.3%, while total company same-store sales increased 1.1%.

Year-to-date, GameStop has opened 156 net new stores: 89 in the United States; 47 in Europe; eight in Canada; and 12 in Australia/New Zealand. The video game retailer currently operates 6,606 stores in 17 countries.

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