Amazon (Nasdaq:AMZN), Wal-Mart (NYSE:WMT), Target (NYSE:TGT) and BestBuy (NYSE:BBY) all generated over 4 million unique visitors on Black Friday, helping increase online sales by 9 percent over last year.
Online sales this year on Black Friday reached $648 million, up from the $595 million generated in 2009.
Canaccord noted, "Market researcher comScore (Nasdaq:SCOR) noted that cyber spending was up big this past Black Friday, with online sales coming in at $648 million, up 9% from $595 million last year. Many were shopping at Amazon.com, which saw a 25% increase in unique visitors compared with the same day last year. The website surpassed four million unique visitors on Friday, with Wal-Mart, Target and BestBuy also hitting the mark. Consumers seemed to have more of an appetite for online deals than plates of turkey, with $407 million of sales recorded on the Thanksgiving holiday versus $318 million last year, an increase of 28%."
Amazon closed Tuesday at $175.40, dropping $4.09, or 2.28 percent. Wal-Mart ended the trading day at $54.09, up by $0.24, or 0.45 percent. Target pushed up to $56.94, rising by $0.61, or 1.08 percent. Best Buy fell to $42.72, falling $0.69, or 1.59 percent.
Trading volume for all the companies was above the 3-month average, with Wal-Mart making the biggest move.
Showing posts with label Retail Report. Show all posts
Showing posts with label Retail Report. Show all posts
Wednesday, December 1, 2010
Monday, November 29, 2010
Citigroup (NYSE:C) Chooses Target (NYSE:TGT), Macy's (NYSE:M) as Top Christmas Picks
After a robust shopping weekend after Thanksgiving in America, Citigroup (NYSE:C) said they're raising their same-store estimates for the Christmas season, increasing them for November from 1.5 percent to 2.5 percent, and for December from 2 percent to 3 percent.
Contrasting last year's sales to this year during the same weekend, Citi noted a major boost of 33 percent for online spending on Thanksgiving day, and a 16 percent increase on Black Friday.
Along with Target and Macy's, other stores enjoying strong Black Friday sales were Saks (NYSE:SKS) and Kohl's (NYSE:KSS).
All of this sounds positive, but it remains to be seen at what costs the larger numbers are being attained, as stores around the country are under severe pricing and margin pressure in order to attract customers during the major shopping season.
It seems traders are considering that as well, as Target was trading at $56.36, falling $0.49, or 0.86 percent at 12:50 PM EST. Kohl's was trading at $56.40, down by $0.94, or 1.64 percent. Citi has a price target of $72 on Target and $33 on Kohl's.
Contrasting last year's sales to this year during the same weekend, Citi noted a major boost of 33 percent for online spending on Thanksgiving day, and a 16 percent increase on Black Friday.
Along with Target and Macy's, other stores enjoying strong Black Friday sales were Saks (NYSE:SKS) and Kohl's (NYSE:KSS).
All of this sounds positive, but it remains to be seen at what costs the larger numbers are being attained, as stores around the country are under severe pricing and margin pressure in order to attract customers during the major shopping season.
It seems traders are considering that as well, as Target was trading at $56.36, falling $0.49, or 0.86 percent at 12:50 PM EST. Kohl's was trading at $56.40, down by $0.94, or 1.64 percent. Citi has a price target of $72 on Target and $33 on Kohl's.
Friday, June 11, 2010
Economic Recovery? Retail Sales Plunge
For those looking to gold for a safe haven and to make money, the release of the latest retail sales report confirms we continually say at Everything Gold, and that is we're not even close to being in a sustainable recovery, and all the massaged numbers the government wants to put out can't cover up the reality of the ongoing recession.
In May, retail sales plunged by 1.2 percent, confirming what I just said, as consumers remain extremely skittish and concerned about the weakness of the economy.
Another thing the government hasn't included in the retail picture is most people were simply spending their tax money, at temporary event, just like the ridiculous notion a bunch of jobs were created, when in fact they were a bunch of temporary census positions, which will end very soon.
It's one thing to listen and read this stuff, it's quite another to believe it.
For gold investors, we need to largely ignore the positive numbers thrown out by the government at this time, as they're largely irrelevant, and only used to show one tiny part of the picture.
All the props and gimmicks are coming to an end, and the real condition of the economy is starting to emerge.
One example of that is the huge decline in hardware and home improvement sales, which plummeted 9.3 percent after the homebuyer tax credit expired.
Keep those types of things in mind when making decisions about investing in general, and investing in gold specifically.
In May, retail sales plunged by 1.2 percent, confirming what I just said, as consumers remain extremely skittish and concerned about the weakness of the economy.
Another thing the government hasn't included in the retail picture is most people were simply spending their tax money, at temporary event, just like the ridiculous notion a bunch of jobs were created, when in fact they were a bunch of temporary census positions, which will end very soon.
It's one thing to listen and read this stuff, it's quite another to believe it.
For gold investors, we need to largely ignore the positive numbers thrown out by the government at this time, as they're largely irrelevant, and only used to show one tiny part of the picture.
All the props and gimmicks are coming to an end, and the real condition of the economy is starting to emerge.
One example of that is the huge decline in hardware and home improvement sales, which plummeted 9.3 percent after the homebuyer tax credit expired.
Keep those types of things in mind when making decisions about investing in general, and investing in gold specifically.
Wednesday, January 14, 2009
Gold Falls for Third Session in a Row on Poor Retail Sales, Dollar Strength
For the third session in a row gold prices plummeted, as poor retail sales and the continued strength of the U.S. dollar put downward pressure on the metal.
It was no surprise to investors that retail sales were weak, but the numbers were down over twice the expected decline, falling by 2.7 percent last month. Declines have happened in the retail sector now for six straight months.
This will continue to hamper commodities as consumers continue to save rather than spend, and demand for goods plummet.
Another factor is the cutting of interest rates by other countries to attempt to jumpstart there economies, which keeps the dollar stronger than it normally would be in these types of conditions.
February delivery for gold dropped by $11.90 to finish the session at $808.80 an ounce on the New York Mercantile Exchange. Over the last three days gold has plunged by 5.4 percent.
It was no surprise to investors that retail sales were weak, but the numbers were down over twice the expected decline, falling by 2.7 percent last month. Declines have happened in the retail sector now for six straight months.
This will continue to hamper commodities as consumers continue to save rather than spend, and demand for goods plummet.
Another factor is the cutting of interest rates by other countries to attempt to jumpstart there economies, which keeps the dollar stronger than it normally would be in these types of conditions.
February delivery for gold dropped by $11.90 to finish the session at $808.80 an ounce on the New York Mercantile Exchange. Over the last three days gold has plunged by 5.4 percent.
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