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Fortune

Phil Wahba

Why smart CEOs are looking past the rosy 'record Black Friday' headlines

Black Friday Fortune Phil Wahba Salesforce

(Credit: Stuart Isett/Fortune)

In today’s CEO Daily: Phil Wahba throws cold water on upbeat Black Friday numbers.
The big story: Fears of a crypto winter take hold.
The markets: Trending up.
Plus: All the news and watercooler chat from Fortune.

Good morning. I’ve spent the past several days digesting consumer data. Countless headlines breathlessly trumpeted a Black Friday bonanza after MasterCard Spending Pulse estimated retail sales rose 4.1% to a new record on shopping’s biggest day of the year, with online spending easily outpacing in-store shopping. Salesforce found strong online growth in dollar terms and forecasts for the same trends on Cyber Monday.

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