Small Business Saturday puts focus on independent retailers

Mom-and-pop stores today are gearing up for a Small Business Saturday that they hope will top the bustle of Black Friday.

"(Today) for us is usually bigger — by double," said Philip Celeste, owner of On Centre, a specialty gift and accessory store in Jamaica Plain. "We're expecting to have a very good holiday season. Looking at November, we're already way ahead of last year."

On Centre opted not to have a sale yesterday or today, instead relying on their unique products and the know-you-by-name customer service that most big box stores and online retailers simply can't provide.

Down the street, at Boing! Toy Shop, Kim Mitchell and her staff gift wrap every purchase for free and have a loyalty program to reward frequent customers. "I'm also here, and I'm active, and if people have a question or a complaint, they know who I am," she said.

Still, many small business owners are acutely aware that their competition increasingly is not only big box stores but the Internet. So at Fire Opal in Coolidge Corner, Sue Stein has heightened her Web presence and advertises on social media. Stein also has the benefit of being located in a neighborhood that has a strong shop-local ethic.

"People should keep in mind that more than half of the money they spend in a small business stays in their town," said Jack Mozloom, a spokesman for the National Federation of Independent Business. "You're helping your neighbors, you're helping to create jobs in your community."

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Monday the deals shift to the Web

Black Friday shoppers have collapsed on their couches and finally gotten a chance to digest that turkey after a hectic day of deal-hunting, but it all starts again Monday on the Internet.

"Online shopping has been very, very strong," said Chris Christopher, a retail analyst with IHS Global Insight. "Right now, a little over $1 of every $20 spent is spent online."

Online shopping is the only retail sector growing at a double- digit pace, with online sales expected to generate $78 billion this holiday season, a
15 percent increase over last year.

Still, Christopher said, Cyber Monday may have lost some of its exclusivity this year because online retailers such as Amazon have been offering deals to compete with brick-and-mortar stores opening on Thanksgiving.

"A lot of them had to up their game because they didn't have the luxury of people staying at home," he said.

Jon Hurst, president of the Retailers Association of Massachusetts, said online retailers can take a chunk out of local sales, but the Internet also opens up possibilities for small stores.

"There's a lot of smaller companies that are finding it as a growth opportunity," he said.

Jasmine Raines, a 24-year-old Dorchester resident, hit Legacy Place in Dedham on Black Friday, planned on shopping again today, and then finish off her spree with some online shopping. "Then I'll wait for Cyber Monday," she said.

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Some Black Friday deals are duds

Black Friday is where good technology goes to die. Doorbuster deals are dubious and an "exclusive" is code for an untested product made specifically to get you in the door on this day.

Exhibit A is every too-good-to-be true deal on an HDTV. On Black Friday, the big box stores are full of television brands you've never heard of before. There's a 32-inch LED TV listed for $98 that I would not pick up for free. To play it safe, stick with Samsung, Panasonic, Sony, Vizio and Sharp. And if there's no listing for a brightness or contrast ratio, the number of HDMI inputs and the resolution, you're likely dealing with a sea of motion blur and muted color.

This year features a special level of laptop mediocrity. The worst offenders are those laptops running the Windows 8 operating system without a touchscreen. Those may look tempting, with the lowest prices south of $200. But under no circumstances should you purchase a Windows 8 PC without the touchscreen. The system wasn't designed to be used with a static screen and mouse.

An array of Android tablets with impossibly low prices is another pitfall to avoid. No tablet should be priced below $150, which is the lowest it costs the manufacturer to produce a semi-respectable tablet. If you're looking for a value tablet, check out Amazon for sales on its excellent line of Kindles.

There is one notable exception to today's bleak tech outlook: Black Friday could be your last chance to purchase the universally sold-out Xbox One system before Christmas. If you're headed to the stores today in search of Microsoft's newest gaming system, expect long lines and possibly even waiting lists.

There are some deals worth noting. Though retailers can't slash prices on most Apple products, Target is offering generous gift cards, like $100 when you buy the new iPad Air. Another heartening Target deal is $99 for a Nikon L320 digital 16 MP camera, regularly priced at $229.99. And, Walmart's 70-inch Vizio E701i-A3E television, for $998 instead of $1,698, is worth a shout-out.

And I'll give props to Best Buy for slashing $200 off the 13-inch MacBook Pro with Retina display, on sale for $1,100.

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Black Friday discounts vary widely

Shoppers beware — not all discounts are equal on the always-chaotic Black Friday.

The world's largest retailer, Wal-Mart, is being noticeably more aggressive on price cuts this year, while Sears' average discounts are less aggressive compared to last holiday season, according to an analysis of Black Friday ads by Jefferies & Co. retail analyst Daniel Binder.

"Wal-Mart stepped up the depth of promotions this year, with about 15 percent higher average discounts than last year," Binder said in his report. "(It) stands to gain the most improvement year-to-year on a day where a certain breed of super value-seekers are shopping based heavily on price."

The Retailers Association of Massachusetts expects Bay State holiday sales to increase 3.5 percent from last year, to approximately $15 billion, after a 2.8 percent jump in 2012. That's slightly below the 3.9 percent rise forecast by the National Retail Federation for nationwide sales in November and December totaling an estimated $602.1 billion.

RAM's member retailers are apprehensive about six fewer days this year between Thanksgiving and Christmas, although they're hoping very good retail sales since August's state sales tax holiday will continue and offset the short calendar, according to the association's president Jon Hurst.

"A good third of all purchases are impulse buys," Hurst said. "That's where, hopefully, you're going to pick up some of your profit margin. With a short window, you have less days for the opportunity for those trips to the store."

Kohl's, which leads in discounts on regular prices among chain stores, is averaging 4.8 percent higher average discounts for Black Friday compared to last year to lure in some of those shoppers, according to the Jefferies report. Sears' average Black Friday discount, meanwhile, is about 21.5 percent less than last year, when it sharply reduced prices.

"We're expecting a great weekend," said Laurel Sibert, vice president of corporate marketing for WS Development, whose shopping centers include Legacy Place in Dedham, The Street in Chestnut Hill, MarketStreet in Lynnfield and the South Shore's Derby Street Shoppes.

But if you plan to stay away from the stores today, you won't be alone. Fifty-six percent of Americans plan to skip Black Friday shopping this year, according to a Consumer Reports poll, and the top three reasons are too many crowds, over-hyped deals and the desire to do something else.

"There's a very large misconception that Black Friday is the biggest sales day of the season," Hurst said. "The Saturday right before Christmas is by far the biggest."

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Casino gambles on Revere

Mohegan Sun and its New York-based investor would be the sole owners of a $1 billion Revere casino — not Suffolk Downs — under a new eleventh-hour agreement finalized just days before the two sides could learn whether they're legally free to build a gaming palace just over the East Boston line.

The deal, announced yesterday after a week of whirlwind negotiations, could breathe new life into two battered gaming partners, whose prospects appeared dead just weeks ago after voters in Palmer spiked a Mohegan Sun proposal and Eastie voters shot down Suffolk Downs' pitch.

But in a major shift from Suffolk Downs' last gaming agreement, the struggling racetrack would lease 42 of its 52 acres of land in Revere to Mohegan Sun and $15 billion-backer Brigade Capital Management, which together would own the casino.

Caesars Entertainment, the track's first partner, bounced amid questions over debt and purported mob ties, would have held just a 4.2 percent stake in the original proposal as the developer and operator.

Mohegan Sun has already passed its Gaming Commission background check.

"It's more akin to our agreement with Palmer," said Mitchell Etess, CEO of the Mohegan Tribal Gaming Authority, referring to the 99-year lease Mohegan Sun had signed to build in the western Massachusetts town, though he declined to detail the Revere terms.

"I think in this case, given the extremely short time frame we needed to get this done, this probably was more executable if our existing arrangements with Brigade and the structure were maintained," Etess said. But he disputed the notion that Suffolk Downs would be simply a "landlord."

"We're really partnering with them," he said.

A Suffolk Downs spokesman declined to comment, referring comment on the deal's structure to Mohegan Sun.

It remains uncertain whether the new partners will be allowed to compete with Wynn Resorts and Everett for the eastern region casino license.

The Gaming Commission is due to meet Tuesday, when its legal team will brief members on whether Suffolk Downs can legally operate a Revere-only casino without another referendum vote. When Revere voters approved a casino on Nov. 5, it was part of the city-line-crossing plan that East Boston rejected.

Celeste Myers of No Eastie Casino, an East Boston-based group that is considering suing to stop the Revere-only deal, immediately blasted Mohegan Sun for "shopping wherever they can."

Mohegan Sun, Myers noted, has faced layoffs of more than 300 workers last year, the refinancing of $715 million in debt and a two-thirds plunge in its fourth-quarter profits just this month.

"They have had all kinds of financial issues," she said. "And now they're joining in the last-ditch cash grab in the commonwealth."

But Etess countered that Mohegan Sun's refinancing will save $16 million in interest costs a year. He touted Brigade's backing "as the strongest platform of any participant in the entire process."

Revere Mayor Dan Rizzo said, "I think it would be unrealistic to think because Mohegan Sun fell on some hard times, that should be indicative of any casino never being built (by them) again."

And Rizzo added, "We can definitely use the jobs."

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Safety first for Black Friday frenzy

Massachusetts stores will be beefing up security, staggering lines and handing out first-come, first-served tickets for hot Black Friday sale items to avoid the kind of stampede that killed a Wal-Mart employee five years ago in New York.

"The busy shopping season should not put retail workers at risk of being injured or killed," said David Michaels, the nation's assistant secretary of labor for occupational safety and health.

In response to letters the Occupational Safety and Health Administration sent out last week, many retailers plan to follow OSHA guidelines, including having trained security or police on hand, placing barricades away from the front of the store's entrance and not allowing more customers to enter once the store reaches its maximum occupancy.

"We continually look for ways to raise the bar on safety for our customers and our employees; their safety is and always has been our highest priority," said Alyssa Peera, a spokeswoman for Toys "R" Us, whose seven Bay State stores will be opening at 1 a.m. "Each year, we evaluate and strengthen our crowd control policies, procedures and store operations right up to Black Friday."

Senior members of the chain's store management teams, including security, will be monitoring crowds waiting outside to identify potential problems before they happen, Peera said.

The chain has tried to ensure it has enough inventory of the most popular toys, she said, But in cases where the demand exceeds the supply, staff will issue tickets to customers for the product on a first-come, first-served basis.

Wal-Mart, whose 47 Massachusetts stores will open on Friday at 1 a.m., will allow customers to line up to get wristbands reserving the item they want, then leave the line to do the rest of their shopping and pick up the item within a two-four period before they leave the store, said Alex Serra, a Wal-Mart spokeswoman.

Best Buy, which will be opening at 1 a.m., also will be giving out tickets reserving items for people in line, as well as distributing store maps so that people will know in advance where to find them, said John Garrasi, who manages the chain's Watertown store.

Wrentham police will have as many as 46 officers working "midnight madness" at Wrentham Village Premium Outlets and a dedicated frequency they'll be able to communicate over, Chief James Anderson said.

There also will be message boards posted on Interstate 495 and Route 1A, telling motorists how much of a wait they can expect to reach the mall.

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Expert: Gaming panel will consider Revere casino

A leading casino expert predicts the state Gaming Commission will seriously consider a Suffolk Downs casino in Revere to keep competition for the sole Eastern Massachusetts gaming license alive, but a group of East Boston residents is vowing to fight such a project.

After yesterday's recount of the votes cast in Palmer's Nov. 5 referendum found that Mohegan Sun did lose, albeit by 94 votes, the Rev. Richard McGowan, a Boston college professor and gaming expert, predicted that Suffolk Downs will now entertain bids from Mohegan Sun, Penn National and Hard Rock — all casino operators that lost bids in other parts of the state.

"I am also fairly certain that Commissioner (Stephen) Crosby will encourage this in order to provide competition with (Las Vegas billionaire Steve) Wynn, especially if (the) Dec. 16 ruling on his suitability goes against Wynn" in his bid to build a casino in Everett, McGowan wrote in an email.

Last week, Crosby said he wanted to consult with the commission's lawyers to determine whether Suffolk Downs legally could shift the site of its proposed casino from East Boston, where residents voted down the project, to Revere, where voters approved it.

Yesterday, Celeste Myers of No Eastie Casino said the group would not rule out legal action if the commission permits the racetrack to build a casino in Revere.

"That's what we have our legal team looking at," Myers said. "We're going to pursue every avenue to fight this."

McGowan predicted that whether Suffolk Downs can build a casino in Revere ultimately will be decided by the courts.

"I don't think the law ever foresaw a situation like this," he said.

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Asian stocks muted before Thanksgiving holiday

MANILA, Philippines — Asian stocks were muted Wednesday as funds switched to better performing markets and trading thinned out ahead of the Thanksgiving holiday in the U.S.

Japan's Nikkei 225 was down 0.3 percent at 15,464.17. Hong Kong's Hang Seng was up 0.5 percent at 23,805.16 and China's Shanghai Composite added 0.7 percent to 2,198.17. South Korea's Kospi fell 0.2 percent to 2,018.40. Southeast Asian bourses were mixed.

Francis Lun of GE Oriental Financial Group in Hong Kong said some funds from Asia are being invested in the U.S. and Germany, where stock indexes are setting record highs.

"Fund managers are switching money out of Asia into Europe and America," he said. "That's why the Asian markets are underperforming."

On Wall Street, upbeat news from the housing industry and luxury retailer Tiffany & Co. nudged shares higher Tuesday.

Investors also got another market milestone when the Nasdaq composite closed above 4,000 for the first time in 13 years.

That followed two other round-number moments last week. The Standard & Poor's 500 closed above 1,800 for the first time and the Dow Jones industrial average finished above 16,000.

The Nasdaq jumped 0.6 percent to 4,017.75. The Dow rose less than a point to 16,072.80 and the S&P 500 index nudged up less than a point to 1,802.75.

In energy markets, benchmark crude for January delivery was down 23 cents at $93.45 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 41 cents to close at $93.68 on Tuesday.

The euro rose to $1.3591 from $1.3567 late Tuesday. The dollar rose to 101.56 yen from 101.25 yen.

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Palmer recount on, Revere heats up

The Bay State's roller coaster casino ride shows no signs of leveling off, with a recount of Palmer's narrow rejection of Mohegan Sun set for today, even as the casino operator says it is moving on in talks with Suffolk Downs as it tries to cobble together a last-minute casino deal in Revere.

On Sunday, Revere Mayor Daniel Rizzo told the Herald an agreement "may be imminent." But yesterday, both Suffolk Downs and Mohegan Sun said they had no agreement to report.

"As we have said before, we have received strong interest in potential partnerships from a number of top-class gaming companies," Chip Tuttle, the track's chief operating officer, said in a statement. "We are aiming to enter an agreement with a new gaming partner soon."

Other casino operators who made failed bids in Massachusetts also could be in the running to replace Caesars Entertainment, which bowed out as Suffolk Downs' partner over concerns about debt and purported mob links.

Yesterday, Scott Butera of Foxwoods, which last week lost a referendum to build a casino in Milford, said: "We're looking for opportunities at this point." But he would not say whether he was talking to Suffolk Downs.

Even if the track cuts a casino deal before the Dec. 31 deadline, its chances of Gaming Commission approval are far from assured. Last week, commission Chairman Stephen Crosby said he wanted to consult with lawyers about the switch to a Revere-only project after voters in East Boston rejected it.

Mayor-elect Martin J. Walsh said in a statement yesterday, "The voters of East Boston said no to a casino, and I respect their stance. It's my responsibility as mayor to ensure that the best interests of Boston residents are protected, and I'll do everything in my power to advocate for Boston during this process."

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The Ticker

Apple buys company that developed Kinect

Apple could be getting into the 3-D sensor game, as it has picked up a company used by rival Microsoft.

Apple confirmed that it has bought PrimeSense, the company behind Microsoft's Kinect sensor device.

PrimeSense also confirmed the sale, though the price has not been revealed.

Wal-Mart names new CEO

Wal-Mart Stores Inc. said yesterday that Doug McMillon, head of its international business, will replace Mike Duke as chief executive officer when he retires as the world's largest retailer struggles to ignite growth at home and abroad.

McMillon, 47, will take over for Duke on Feb. 1, the Bentonville, Ark.-based company said. Duke, 63, will stay on as chairman of the board's executive committee, and McMillon will join the board immediately.

McMillon, who first worked at Wal-Mart as a summer employee in 1984, is grabbing the reins as the retailer tries to restore U.S. sales growth with Amazon.com Inc. and dollar stores luring away its customers.

Today

• Commerce Department releases housing starts for September and October.
• Commerce Department releases third-quarter gross domestic product.
• Standard & Poor's releases S&P/Case-Shiller index of home prices for September and the third quarter.
• The Conference Board releases the Consumer Confidence Index for November.

TOMORROW

• Commerce Department releases durable goods for October.
• Commerce Department releases personal income and spending for October.
• Labor Department releases weekly jobless claims.
• Freddie Mac, the mortgage company, releases weekly mortgage rates.

Kirkland Albrecht & Fredrickson LLC, one of the leading CPA firms in the Boston area, announces that Jennifer Frazier has joined the company as a staff accountant. In this role, she will assist with audit engagements, including bank reconciliations and the preparation of trial balances and financial statements.

L CVS Caremark announced that Helena Foulkes, recently chief of health care strategy and marketing officer, has been named president of CVS/Pharmacy effective Jan. 1.

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