Money Minute: Kmart's Black Friday Woes; Are Retail Investors Getting Ripped Off?

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Kmart is trending, but not in a good way. That and more top money stories you need know Wednesday.

Holiday Shoppers Seek Out Deals On Black Friday
Allison Joyce/Getty ImagesCustomers check out at a Kmart store in Braintree, Mass. during last year's Black Friday event.
Kmart (SHLD) just can't catch a break. Within hours of saying it would open its stores at 6 a.m. on Thanksgiving, social media sites lit up with criticism of the plan. Some angry customers even threatened to boycott Kmart for being insensitive to its workers.

The little guy is getting ripped off. The game of buying and selling stocks is stacked against you and me, the retail investors. That's the word from someone who should know, the head of the company that's in the process of buying the New York Stock Exchange. He told analysts that small investors get taken advantage of when they go make trades.

The Dow Jones industrial average (^DJI) fell 21 points Tuesday and the Standard & Poor's 500 index (^GPSC) lost 5. But the Nasdaq composite index (^IXIC) added 3 points. After the markets close Wednesday, Twitter will set the price for its IPO, which begins trading Thursday.

Tesla has hit a bump in the road. One of the best performing stocks this year is set to slide. The luxury carmaker says its quarterly loss narrowed from a year ago, and it announced plans to boost production to meet rising demand. But the company also warned that fourth quarter results will fall short of expectations. Over the past year, Tesla (TSLA) shares have soared a whopping 461 percent.

Toyota's (TM) profit soared by 70 percent and it raised its outlook for the full year. The gains were led by strong U.S. sales.

Abercrombie & Fitch (ANF) has lost some of its cool. The retailer of teen clothes reports a steep drop in sales last quarter. The company says younger consumers simply aren't spending as much. Abercrombie shares are down 20 percent this year, and falling.

And the giant meat-packing company Cargill says beginning next year it will label ground beef that contains a filler that's become known as pink slime. The controversial additive is considered safe, but it's made of meat scraps that are washed in ammonium hydroxide. And that's sparked a big yuck factor for consumers.

-Produced by Drew Trachtenberg.


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ccyukon

The stores would not be open on holidays (including Thanksgiving) if consumers did not shop on these days. You have to feel sad for people that must have no life to be out shopping on Thanksgivind Day. Is shopping the only thing they have to be thankful for? Not the warmth and enjoyment of being home with family and friends?

November 07 2013 at 3:40 AM Report abuse rate up rate down Reply
fbry28

Kudos to Kmart for opening on Thankgiving day. They are really helping the little people (their workers) by giving them holiday pay whether it is double pay or time and a half pay they can really use it for the holidays. I WILL BE SHOPPING THERE AND BUYING A LOT.

November 07 2013 at 3:15 AM Report abuse +1 rate up rate down Reply
rineyd

getting knickers in a knot with the oligarchs sqeezin 'em

November 07 2013 at 3:15 AM Report abuse rate up rate down Reply
esideheart

I won't be shopping in any retail stores on thanksgiving day. It is family day, fun, eat, watch movies, playing games. Relax and just be with family. So you all go out and shop, fill the pockets of Sears and all the Retailers which will not make it into the pockets of the workers, and I will be having a good time at home. God Bless, Happy Thanksgiving.

November 07 2013 at 3:11 AM Report abuse rate up rate down Reply
adika3z

hey americans people,
do NOT going to black friday shopping after thanksgivings,
not important and not worth it,
keep avoid away from black friday,
keep ignore black friday,
black friday is a very big stupid idea,
dont go there

November 07 2013 at 2:20 AM Report abuse -1 rate up rate down Reply
ateht3

Won't it be time and a half? Thanksgiving should be everyday anyway.

November 07 2013 at 1:23 AM Report abuse rate up rate down Reply
jfsavo

Be glad you have a job. Stop complaining.

The people that do not work there have no say in what the workers actually want.

Thanksgiving is a sham of a holiday anyway. The pilgrims brought disease and dread to the Indians. The pilgrims would have died if the Indians did not teach them what to eat and how to plant certain crops.

I could go on, but it would just be useless to some who do not know history.

November 07 2013 at 1:10 AM Report abuse +1 rate up rate down Reply
dsinclair687

I can tell you first hand with over 25 yrs of retail management under my belt that black fried sales are a total scam to begin with......stay home and do not buy into the hype, its total BS!

November 07 2013 at 1:03 AM Report abuse rate up rate down Reply
gobigorange5090

whiners

November 07 2013 at 1:00 AM Report abuse rate up rate down Reply
ron

love k mart

November 07 2013 at 12:59 AM Report abuse +1 rate up rate down Reply