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Retailers Get a Strong Start to the Holiday Shopping Season
Macy’s CEO Jeff Gennette stood in the middle of the department store in New York’s Herald Square on the morning of Black Friday, talking about how the crowds are back at bricks-and-mortar stores. “We’re not going to disappoint customers,” he told CNBC, noting that the retailer’s inventory is about 20% higher than last year because it avoided supply-chain snafus by ordering merchandise early and using different ports. According to early data by Mastercard SpendingPulse, Black Friday in-store sales were up nearly 43% compared with the same time a year ago.
