Was Black Friday A Success? Survey Says: Not For Luxury Brands

Consumers are wondering just how much damage was done during last week's Black Friday, but it's important to put all that shopping into perspective.

Retailers and luxury brands hoped shoppers would feel more comfortable in stores this season, as business seemed to be poised to pick up. But though Macy's and Saks have reported improvement, new statistics suggest that more is needed to show that this recession can be beat. November's luxury sales declined 7.3%, their first drop since August after gains in September and October, according to MasterCard Advisors SpendingPulse.Continue reading...