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2 Retail Stocks to Avoid After Black Friday Traffic Disappoints -Breaking


© Reuters. Black Friday traffic disappointments: 2 retail stocks to avoid

The lingering supply chain problems and the lower foot traffic caused by concerns about the new omicron coronavirus strain have impacted Black Friday sales. Hence it could be best to avoid retail stocks with weak financials — Gap (GPS) and Nordstrom (NYSE:).Black Friday sales increased but reflected the supply chain challenges. Adobe Analytics data shows that Black Friday sales were slightly lower than in 2020, with customers spending $8.9 trillion online.

Sensormatic Solutions data shows that Black Friday sales at retailers fell 28.3% from their 2019 levels due to online shopping and holiday shoppers spending more throughout the year. The new omicron coronavirus strain triggered an alarm worldwide, causing stores to sell the least amount of clearance items in five years.

These stocks, The Gap, Inc., and Nordstrom, Inc., are fundamentally low retail stocks that should be avoided.

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