(Updated with more analyst comments)
NEW YORK ( TheStreet) -- As Black Friday kicked off today, many shoppers were eagerly anticipating taking home their heavily-discounted prize gifts. Some had been lining up since the early hours of the morning to be first in line to grab early Christmas gifts and snap up the limited inventories available in-store. Meanwhile, all eyes in the financial community were carefully watching how retailers perform in their annual battle for their share of the consumer's wallet.
Traditionally Black Friday has been known as the "make or break" day for the retail industry, where the retailers finally turn a red loss into a black profit on their books. In recent years, though, the day's importance has waned slightly.
Some stores such as Wal-Mart (WMT) and K-Mart, a subsidiary of Sears (SHLD) were already open on Thanksgiving Day. Electronic goods were in prime demand, with Best Buy (BBY) a key destination for the goods of electronic companies such as Hewlett-Packard (HPQ) and Dell (DELL) (See story: "Black Friday's 10 Top Tech Deals" By Scott Moritz -- for examples of top 10 tech deals).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV