New York shoppers beat economic blues at 'Black Friday' sales

AFP 24 Nov 07

NEW YORK (AFP) — Shoppers in New York brushed off some gloomy economic forecasts and packed into stores Friday after the Thanksgiving Day holiday, kicking off one of the busiest US shopping periods of the year.

While economists have suggested this year's holiday season will likely see only a small increase in takings over last year due to weak consumer confidence, there was little sign of depressed sales on New York's streets.

"I was up at two-thirty this morning to shop," said Kim Melise, 22, a New Yorker who was struggling to get into Bloomingdale's department store with his arms already weighed down by bags of shopping.

Melise was one of those taking advantage of the special offers, despite the threat of a looming recession and a crunch in the housing and credit markets.

While some sales staff reported less of a crush than last year, most said they had not noticed reduced takings at the sales registers, with many reporting increased demand from European buyers attracted by the weak dollar.

"We arrived yesterday, did all our shopping for Christmas and will be back home on Monday," said Rachel Brown, a 33-year-old from Wales shopping with a friend and struggling with a load of bargains.

Les White, 51, from London, left one of the world's other great shopping capitals to visit the Big Apple with his wife.

"We shopped as much as we could," said White, waiting in a line of 50 people wanting to pick up a reduced-price iPod at the Apple Store on Fifth Avenue, which was already packed at 11:00 am.

Others came from nearby. Lisa left toy store FAO Schwartz clutching five bags. As in previous years, she arrived early in Manhattan from Long Island with her husband and two daughters to do their Christmas shopping.

The Friday after the Thanksgiving Day public holiday traditionally kicks off one of the busiest shopping periods of the year.

It is known as "Black Friday," supposedly because of the bad traffic around the holiday period and because the day's takings signal the beginning of a period in which stores hope to go into credit -- or into the black.

Up to 133 million shoppers were expected to hit US stores over the long weekend, with the National Retail Federation projecting a four percent rise in holiday spending, while Ernst & Young suggested growth of 4.5 percent.

"Retailers know that customers are looking for good values this holiday season and many will be offering prices and promotions that are too good to pass up," said National Retail Federation President Tracy Mullin.

But other sales staff were more cautious. A saleswoman from men's clothes store Brooks Brothers on Fifth Avenue said she had noticed fewer shoppers.

Richard Zeltmer, a salesman at Park Avenue liquor store Sherry Lehman said that while he had not noticed customers spending more than usual, he had seen a larger than usual number of Europeans.

The rush for the stores was also good news for charities such as the Salvation Army, which had volunteers Friday outside many of the major stores.

"It is a good day for us", said one of the volunteers in front of homeware store Crate and Barrel on Madison Avenue.

But enthusiasm for Friday's spending orgy was not universal. Reverend Billy, a protestant New York pastor from the "Church of Stop Shopping" was promoting a "buy nothing day."

"Consumerism is overwhelming our lives," he said.