Retail
Which Retailers Will Be Sales Winners on Final Weekend Before Christmas?
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Industry analyst firm Retail Metrics said on Tuesday that it expects December same-store sales to rise by 4.0% compared with last December. Discounting remains, but the steep early discounts of 40% and 50% around Black Friday have moderated. Excluding drug store sales, December’s same-store sales are expected to be 3.3% higher than December 2013. The combined November/December same-store sales increase is expected to be 4.4% year-over-year.
Stores seeing the most traffic according to Retail Metrics are the Pink and Victoria’s Secret stores owned by L Brands Inc. (NYSE: LB), Apple Inc.’s (NASDAQ: AAPL) Apple Store and Best Buy Co. Inc. (NYSE: BBY), among others. Macy’s Inc. (NYSE: M) was the busiest mall anchor store, and Retail Metric’s scouts noted that J.C. Penney Stores Inc. (NYSE: JCP) mall stores were “moderately busy.” Teen retail and specialty stores appeared to be “relatively quiet” last weekend.
Strong sales are predicted for new cars, big-ticket items for the home, electronics, wearables, smartphones, tablets and 4K Ultra high-definition TV. Retail Metrics especially noted GoPro Inc. (NASDAQ: GPRO) cameras and Apple’s iPhone 6 as strong sellers. Athletic leisure gear, boots, handbags and accessories continue to be solid sellers as well.
Electronics gear has been a steady winner throughout the holiday season this year, just as teen and specialty apparel retailers have had a tough time. The apparel sellers may revert to deeper discounting, exchanging profits for sales and lower post-holiday inventories. If recent preliminary estimates from many of the specialty retailers are any guide, some retailers’ fourth-quarter results are not looking healthy.
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