Cowen notes lowest Black Friday retail clearance levels in years

Brilliant Earth

26/11/2021 16:56

** Cowen analysts say they observed lowest levels of
clearance goods in 5 yrs or more during their mall and off-mall
store checks; forecast "one of the best Black Fridays" this year
    ** Low clearance levels fueled by consumer demand, supply
constraints, a new apparel cycle and strong momentum for both
gift-giving and receiving - brokerage
    ** Cowen's Black Friday picks are "multi-category
powerhouses" Target  TGT.N  and Walmart  WMT.N ; "beauty and
apparel innovators" Macy's  M.N , Kohl's  KSS.N  and American
Eagle Outfitters  AEO.N ; and "new gift giving destination"
Brilliant Earth Group  BRLT.O 
    ** Checks made by retail experts and analysts have shown
footfall in stores have been light on Black Friday this year due
to an earlier-than-usual start to the holiday selling season
 urn:newsml:reuters.com:*:nL1N2SH0TP
    ** Consumers expected to spend $8.8 bln-$9.6 bln online on
Friday after spending $5.1 bln on Thanksgiving, Adobe Digital
Economy Index forecasts, even as retailers offer only thin
discounts to protect margins  urn:newsml:reuters.com:*:nL1N2SH0TP
    ** "The elements around Black Friday have been going on for
the week, if not weeks already ... Customers have been spreading
out their purchases," Adam Pressman, a managing director in the
retail practice at consulting firm AlixPartners tells Reuters

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))