Categories Earnings, Retail, U.S. Markets News

Report says 2018 US holiday season was best in six years

The US retail industry recorded its strongest holiday shopping season in six years, according to a report by Mastercard SpendingPulse. Retail sales in the US during the period from November 1 to December 24 grew 5.1% to more than $850 billion, covering both in-store and online sales.

E-commerce saw solid growth during the holidays, with online sales improving 19.1% from last year. Based on data from Reuters, the National Retail Federation had projected holiday retail sales in the US to rise between 4.3% and 4.8% in November and December.

The increase in wages and declines in unemployment rates appear to be fuelling consumer confidence and the stock market volatility, partial government shutdown and concerns over economic weakness do not seem to have dented the sentiment at all.

The apparel and home improvement sectors saw the highest growth during the holiday period with apparel rising around 8% and home improvement growing 9%. The electronics and appliances sector saw a 0.7% drop in sales.

Amazon sells more items than ever before this holiday season

Department stores saw a 1.3% drop in sales, mainly due to store closures, but their online sales grew over 10% in the holiday season. Several leading retailers have invested in their ecommerce capabilities but the majority of online sales continue to be captured by Amazon (AMZN). The online retailer had a record-breaking holiday season, with its orders hitting a new peak.

As of 3:00 pm ET, Amazon’s stock was up 7.4% while Walmart’s (WMT) shares were up 3.8%. Target’s (TGT) stock was up 4.4% and Kohl’s (KSS) shares were up 8.8%. Lululemon’s (LULU) shares were up 6.6%, Nike’s (NKE) stock was up 5.3% and Macy’s (M) shares were up 4.7%.

 

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.

Most Popular

Earnings Preview: UnitedHealth looks poised to end FY24 on a positive note

UnitedHealth Group (NYSE: UNH), a leading provider of health insurance and healthcare services, is expected to report fourth-quarter earnings next week. The company, a market leader in the nation's colossal

Mattel (MAT): A look at the toymaker’s evolving strategy and its opportunities

Shares of Mattel, Inc. (NASDAQ: MAT) stayed green on Wednesday. The stock has dropped 4% over the past month. Over the past few years, the toymaker has been focused on

AngioDynamics (ANGO) reports net loss for Q2 2025; sales drop 8%

AngioDynamics Inc. (NASDAQ: ANGO) reported a net loss for the second quarter of 2025 as the medical device company’s revenues decreased 8%. Net loss, excluding special items, was $0.04 per

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close