Walmart Disappoints Customers On Black Friday

Shares of Walmart finished 0.3% higher Friday as investors saw online sales for Black Friday increasing nearly 20% versus last year. Analysts have been forecasting this Black Friday could see consumers spending $7.4 billion, and Walmart is expected to get a good chunk of that holiday spending.

However there could be some problems on the horizon for Walmart shares. Friday saw numerous customers taking to social media to complain that Walmart was sold out of several popular items just minutes after the Black Friday sales began. Some even said they simply weren’t able to get to their cart and pay for the items fast enough.

The backlash from irate customers could spill over to investors next week, who might decide to sell their Walmart shares and make a bet on other retailers winning this holiday season.

Shares of Walmart have gained 27.9% since the start of the year, so some profit taking wouldn’t be out of line as we head into the last month of the year. Walmart has given investors the excuse to start taking those profits with its poor performance on Black Friday, and it could impact the retailer for the entire holiday shopping season.

Several irate customers said they would take the rest of their holiday business to competitors such as Target and Amazon. Prior to the Black Friday items being sold out Walmart was expected to be one of the big winners for the holiday season, but now there are doubts if that will be the case. This could be the blackest Friday ever for Walmart.