Heading into December, consumers are feeling more confident about the economy and that is good news for retailers who are hoping for a strong holiday shopping season.
Retailers who promoted their online presence as a way to avoid the crowds this past weekend were rewarded for their efforts with record sales on Thanksgiving Day and Black Friday.
The combination of earlier than ever opening hours, favorable weather and deal conscious consumers receptive to heightened promotional activity produced record sales over Thanksgiving weekend.
Heading into the holiday season it was widely expected that online sales would enjoy another year of double-digit growth, and now new data from the online measurement firm comScore confirms those earlier expectations.
Target merchandising executive Casey Carl was given added responsibilities for the retailer’s online businesses, following a series of snafus related to an August relaunch that resulted in the departure of former online president Steve Eastman.
Collective Brands Inc., parent of Payless ShoeSource, reported that it swung to a loss of $114.3 million in the quarter ended Oct. 29, compared with a profit of $47.6 million in the year-ago period.