Retail
Which Retailers Will Be Sales Winners on Final Weekend Before Christmas?
Published:
Last Updated:
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.
ALSO READ: Walmart Cuts More Prices
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
