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Retail

E-Commerce Big For Holiday Weekend, May Benefit Sony (SNE) And Amazon (AMZN)

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By Douglas A. McIntyre Published
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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

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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