Retail
E-Commerce Big For Holiday Weekend, May Benefit Sony (SNE) And Amazon (AMZN)
Published:
According to comScore, "online retail spending was strong on both Thanksgiving Day (up 29 percent to $272 million) and “Black Friday” (up 22 percent to $531 million), outpacing the season-to-date growth rate." If the trend for the holiday season continues, much of this growth will be driven by video game console sales, good news for Microsoft (MSFT), Sony (SNE), and Nintendo.
But, with e-commerce now running up by 20% or more for November, strength in December appears likely, and that is almost certainly good news for the largest online retailers like Amazon (AMZN), Apple.com (AAPL), Wal-Mart (WMT), and Target (TGT). Whether e-commerce sales can make up for weakness is stores is another matter, and Wall St. will probably not have that answer until early next year.
But, it is good for the retail sector of the economy to have at least some wind at its back.
Douglas A. McIntyre
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