Black Friday's Impact, Kirkland's Quarter, and Preparing for TikTok's Potential Ban

Originally published December 6, 2024. This version was rebuilt from the D.C. Circuit's TikTok opinion, Kirkland's results, NRF's Thanksgiving survey and the BLS jobs report for the FIN archive, and the facts are as of that date.

The first week of December 2024 showed shoppers returning to stores, a legal blow to a key marketing channel, and a factory workforce that kept shrinking.

The short version

• The D.C. Circuit denied TikTok's petitions against the divest-or-ban law.
• Kirkland's said comparable store sales rose 1.6% while e-commerce fell 14.9%.
• BLS showed furniture and related product manufacturing jobs slipping again in November.

Black Friday's impact

NRF said 126 million consumers shopped in stores over Thanksgiving weekend, up from 121.4 million, while online shoppers fell to 124.3 million from 134.2 million.

Kirkland's results pointed the same way. Its comparable store sales rose 1.6% while e-commerce sales fell 14.9% in the third quarter. Net sales were $114.4 million and gross margin rose 180 basis points to 28.1%.

TikTok legal challenges

On December 6 the U.S. Court of Appeals for the D.C. Circuit upheld the law requiring TikTok's sale or ban and denied the petitions. The prohibitions were set to take effect on January 19, 2025 for the TikTok platform.

Home furnishings brands that relied on TikTok for room tours and product launches started planning for a possible shutdown and testing other video platforms.

Update. The Supreme Court affirmed the ruling on January 17, 2025, and an executive order paused enforcement for 75 days.

Factory jobs slip

The November jobs report showed furniture and related product manufacturing employment at 338.6 thousand, down 1.0 thousand from October and down from 352.0 thousand a year earlier, seasonally adjusted.

Domestic furniture plants kept shedding workers as orders stayed soft, even as total nonfarm payrolls rose by 227,000 in November.

Company updates

Stores won back shoppers over the holiday weekend, but online channels and social marketing faced new headwinds. Makers kept trimming staff while they waited for demand to return.

Related on FIN

• Furniture Showrooms Run on Morale
• Furniture Orders Rose 9%. Factories Still Aren't Hiring for It.

Sources

• U.S. Court of Appeals for the D.C. Circuit, TikTok Inc. v. Garland, opinion (Dec. 6, 2024)
• Supreme Court of the United States, TikTok Inc. v. Garland, opinion (Jan. 17, 2025)
• The White House, Executive Order on TikTok (Jan. 20, 2025)
• Kirkland's, Inc., Third quarter 2024 results (Dec. 6, 2024)
• National Retail Federation, 197 million consumers shop over Thanksgiving holiday weekend (Dec. 3, 2024)
• U.S. Bureau of Labor Statistics, Employment Situation, November 2024