SpendingPulse: Holiday 2010 e-commerce up in double digits
PURCHASE, N.Y. — MasterCard Advisors’ SpendingPulse, a macroeconomic report tracking national retail and services sales, announced results for e-commerce sales for the 2010 holiday shopping season. During the period ranging from Oct. 31 to Dec. 24, consumers spent $36.4 billion online, a 15.4% increase compared with the same period in 2009, according to SpendingPulse estimates.
“Today, e-commerce accounts for a much larger share of overall retail sales compared to a few years ago. And during this holiday season, it registered double-digit growth for 6-out-of-7 weeks,” noted Michael McNamara, VP MasterCard Advisors SpendingPulse. “In terms of subcategories, apparel was the clear leader, helping increase the channel’s overall lift. In terms of share, online apparel sales during the holiday season accounted for 18.8% of total sales in that category, compared to16.9% in 2009. As for some of the other subsectors, online electronics, not surprisingly, also recorded significant gains, while jewelry, although still in positive territory, lagged behind,” McNamara said.
The company noted that the 2010 holiday season included six days that surpassed $1 billion in sales compared with just three days in 2009. Top sales days included Tuesday, Nov. 30 ($1.16 billion), and Wednesday, Dec. 1 ($1.13 billion). In addition, Cyber Monday, the first day back to work after Thanksgiving, generated $999.3 million in sales this year, a 25.3% increase compared with the same day in 2009.
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Rite Aid expected to make biggest recovery in 2011
NEW YORK — Rite Aid stock is expected to make the biggest stock-price recovery in 2011, according to a poll of TheStreet readers.
According to the poll, published Thursday morning on TheStreet.com, 28.2% of voters believe the drug store will experience the largest rally of the most depressed stocks of 2010. This in spite of the fact that Rite Aid earlier this week restated year-end projections following an underperforming quarter.
In its third quarter, Rite Aid reported a loss of $79.1 million, or 9 cents a share, compared with a loss of $83.9 million, or 10 cents, in the same period last year.
We're rooting for RAD to make their recovery, just how do they plan to retire the crushing $6bil debt? That seems to be the biggest challenge they face. Any comments????
ComScore reports 12% increase in holiday retail e-commerce spending
RESTON, Va. — ComScore on Wednesday tabulated $28.4 billion in holiday season retail e-commerce spending for the first 49 days of the November/December 2010 holiday season. That marks a 12% increase versus the year-ago period.
The most recent week (ended Dec. 19) reached $5.5 billion in spending, an increase of 14% versus the corresponding week last year. The final shopping weekend before Christmas reached $900 million in retail e-commerce spending, representing a strong 17% growth rate versus last year.
"Spending growth has remained strong right through the final shopping weekend of the holiday season," stated ComScore chairman Gian Fulgoni. "The growth rate of 17% witnessed during the final weekend capped off the heaviest online spending week of all time at $5.5 billion,” he noted. “Although there are still nearly two weeks remaining before the end of the year, holiday spending is inching very close to the total for the entire 2009 holiday season, a sign of just how much the online retail landscape has improved in the past year."
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