https://www.wsj.com/articles/stores-finishing-the-holidays-on-a-high-note-11545566400?mod=mhp
Retailers wrapped up one of the strongest holiday seasons in years with Americans crowding stores for last-minute Christmas gifts and delivery companies so far able to keep up with the surge in online orders.
Stores have met the lofty sales expectations set by analysts and industry groups, according to early data, showing that many chains continue to reap the benefits of a strong U.S. economy and rising consumer confidence, as well as company investments to boost their online business and clean up stores.
Total U.S. retail sales, excluding automobiles, rose 5.2% from Nov. 1 through Dec. 19 compared with last year, according to Mastercard SpendingPulse, which tracks both online and in-store spending with all forms of payment.
Although foot traffic to traditional stores fell during the Black Friday weekend, overall retail sales rose thanks in large part to a surge in online shopping, which jumped 26% from a year earlier, according to Adobe.
“This year, we clearly saw a dramatic shift in holiday in both cadence and consumer response,” as retailers offered big deals over Thanksgiving, then sales fell, said Marshal Cohen, chief retail industry adviser at the NPD Group.
But spending has picked up and so far declines in the stock market and a partial shutdown of the U.S. government largely haven’t caused shoppers to pull back, said Craig Johnson, president of Customer Growth Partners, a retail research and consulting firm. Lower gas prices in recent weeks may help spur spending this week, he said.
“In terms of accounting, it all counts for the fourth quarter,” the period when retailers make up a significant percentage of sales, said Mr. Johnson.
Submitted December 23, 2018 at 10:43AM by ryeander http://bit.ly/2EKFAb5
