U.S. Black Friday 2025 retail sales rose 4.1% year-over-year, driven by a significant 10.4% increase in e-commerce, while in-store sales grew by just 1.7%. Adobe reported a record $11.8 billion in online spending, with over half of the purchases made via smartphones. Top-performing categories included apparel, restaurants, and jewelry. In contrast, in-store foot traffic declined by 3.6%, impacting mall-based retailers. Retail stocks showed mixed pre-market performance, with defensive stocks like Walmart seeing slight gains, while Target and Best Buy experienced declines. Nasdaq futures fell over 200 points, indicating a cautious market sentiment.