Tags: US | Retail | Sales | Outlook

Stores to Post Modest December Sales Gains

Wednesday, 06 Jan 2010 06:57 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Holiday shoppers bought a little more jewelry, electronics and boots but passed by the women's clothing racks, according to figures released Wednesday.

The latest figures from MasterCard Advisors' SpendingPulse also offered confirmation that shoppers were deliberate in their spending. The data service tracks all forms of payment, including cash.

Still, retailers are feeling somewhat encouraged, entering 2010 with fewer clearance racks and expecting fourth-quarter profits to improve compared with last year, when many lost money.

"It was a holiday season of modest sales gains but healthy profits," said Michael P. Niemira, chief economist at the International Council of Shopping Centers. "The question is, what kind of momentum do we have in the next few weeks? There is no reason for shoppers to buy."

Niemira estimates that his index of sales at stores open at least a year for December will rise 2.5 percent, following a disappointing 0.2 percent decline in November. The index is based on sales at stores open at least a year, considered a key indicator of a retailer's health.

The index excludes sales results from Wal-Mart Stores Inc., the world's largest retailer, which no longer releases monthly results.

Analysts say discounters and wholesale club operators such as Costco Wholesale Corp. and TJX Cos. will emerge as the holiday winners, while many apparel stores are likely to suffer sales declines.

The worst December performers are expected to be teen merchants, particularly pricier stores such as New Albany, Ohio-based Abercrombie & Fitch Co. as parents have cut spending even on their children.

Among the exceptions are Limited Brands Inc., the Columbus, Ohio, company that operates Victoria's Secret, and Aeropostale Inc., which offers teen clothing that's less expensive than A&F.

SpendingPulse had said on Dec. 28 that retail sales rose 3.6 percent from Nov. 1 through Dec. 24, compared with a 2.3 percent drop in the year-ago period. Adjusting for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 percent gain. Holiday figures through Dec. 31 were not provided.

Sectors that saw improved sales from Nov. 29 through Saturday, compared with a year ago, according to SpendingPulse:

— Online sales soared 17.7 percent. For the year, that category rose 12.2 percent.

— Footwear, up 6.2 percent. For the year, it was unchanged.

— Electronics, up 7.3 percent in December. It fell 0.5 percent for the year.

— Luxury sales, excluding jewelry, up 5.5 percent. They fell almost 8 percent for the year.

— Jewelry, up 6.9 percent in December, down 4.1 percent for the year. High-end and low-end jewelry chains fared well, but mid-tier jewelry stores struggled.

Doing less well were clothing sales, which fell 1.8 percent from Nov. 29 through Saturday compared with a year ago. The category was down 6.7 percent for the year.

However, men's apparel fared much better than women's. Men's apparel sales rose 2.6 percent from Nov. 29 through Saturday. In contrast, women's apparel sales fell 2.8 percent.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

CDC Study: Fewer Americans Now Without Health Insurance

Tuesday, 16 Sep 2014 09:11 AM

The number of uninsured Americans has fallen by some 3.8 million people, representing a 1.3 percent decrease, since the  . . .

115,000 Could Lose Obamacare Insurance Over Immigration

Monday, 15 Sep 2014 17:24 PM

The Obama administration says 115,000 people in 36 states could lose their private health insurance under Obamacare afte . . .

Arizona GOP Leader Quits After Medicaid 'Sterilization' Uproar

Tuesday, 16 Sep 2014 08:24 AM

Russell Pearce, vice chairman of the Arizona Republican Party, has stepped down after telling his radio show audience Se . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved