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Consumer Cos Up As Stimulus Hopes Offset Black Friday Slowdown -- Consumer Roundup

12/01/2020 | 05:01pm EST

Shares of retailers and other consumer companies rose as hopes for a second coronavirus relief package offset signs of a slowdown in Black Friday weekend sales.

People spent an average of just under $312 on holiday-related purchases, a 14% drop from 2019, according to a survey from trade group the National Retail Federation.

Overall sales on the traditional kick-off to the holiday shopping season fell because increases in digital purchases failed to compensate for a sharp decline in store traffic due to pandemic precautions.

In-store shoppers fell 37% from a year earlier on Black Friday, while online shoppers on that day rose 8% and topped 100 million.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

12-01-20 1700ET

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