Black Friday Blues | Bleader

Monday, November 30, 2009

Black Friday Blues

Posted By on 11.30.09 at 01:50 PM

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The merino rose corsage cardigan from J. Crew--on Mrs. Obamas wishlist this year?
  • jcrew.com
  • The merino rose corsage cardigan from J. Crew—on Mrs. Obama's wish list this year?

The results are in: About 23 million more people were out shopping than last year, but they spent less money. Not great news for retailers hoping for a jump over last year's dismal season.

But at least one is breaking out the bubbly: Last week J. Crew reported its profits are double what they were for the same period last year, even higher than analysts predicted. The company pointed to "unique, differentiated merchandise that cannot be found elsewhere" and "tailored customer service" as factors, but we know the real reason.

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