Black Swan Friday?
The day after the U.S. Thanksgiving Day marks the traditional start of the holiday shopping season, when retailers can make up to 40 percent of their annual sales. Crowds gathered outside stores for predawn deals.
Sheesh, when did a shopping day become traditional, for pity's sake?
Whatever, the larger point is that if 40% of sales depend on one day, that's a recipe for disaster; the retail equivalent of a potato famine.
Somehow, sometime, that one day will fail. Will retail have the resilience to survive if it does? No, not if everything has been optimized on the assumption that "tradition" can never be affected by events. More bad models, just like Wall Street.
UPDATE Library-like silence in Manhattan stores. Let's remember that the poor bastard who was mobbed to death worked at a Wal-Mart -- a discount operation.