CNBC's "Fast Money" Fast Money 11/25/25
Nov 25, 2025
Oliver Chan, a Senior Retail Analyst at TD Cowen, dives into consumer behavior and retail sector trends. He discusses the unexpected resilience of shoppers before Black Friday and identifies retail giants like Walmart and Costco as key winners in holiday spending. Chan also analyzes Target's inventory challenges and highlights the impact of promotional strategies on consumer choices. With a keen eye on the evolving holiday landscape, he shares insights on how different income groups are adjusting their spending habits.
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Pre-Black Friday Retail Bounce
- Retail stocks saw a broad bounce ahead of Black Friday, led by laggards like Abercrombie, Kohl's and Best Buy.
- Traders warn this may be a bounce within a longer downtrend rather than a durable consumer revival.
Pick Retailers With Tech And Value
- Favor Walmart and Costco as value and membership plays heading into the holidays.
- Look for tech-driven differentiation (digital ads, marketplace, membership) when choosing retail winners.
Black Friday Is Now Multi-Week
- Black Friday promotions have stretched into a multi-week "Black November" with planned deals.
- Retailers manage inventories more tightly now, reducing the panic buying seen last year.