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U.S. holiday shopping season best in six years: report
Source: Reuters
BUSINESS NEWS DECEMBER 26, 2018 / 8:40 AM / UPDATED 14 MINUTES AGO
U.S. holiday shopping season best in six years: report
Aishwarya Venugopal
4 MIN READ
(Reuters) - Sales in the 2018 U.S. holiday shopping season rose 5.1 percent to over $850 billion, the strongest in six years, according to a Mastercard report on Wednesday, as shoppers were encouraged by a robust economy and early discounts.
The data follows Amazon.com Inc’s announcement of a “record-breaking” selling season, with the online retail giant shipping a billion items for free through its Prime membership in the United States.
Amazon’s shares jumped as much as 5 percent, while those of Kohl’s Corp rose 4.2 percent. Macy’s Inc gained 3.6 percent, Nordstrom Inc 3 percent, and Target Corp and Walmart Inc rising over 1 percent.
The strong sales numbers indicated that rising market volatility due to concerns over slowing global growth and political deadlock in Washington has not impacted consumer confidence so far.
-snip-
U.S. holiday shopping season best in six years: report
Aishwarya Venugopal
4 MIN READ
(Reuters) - Sales in the 2018 U.S. holiday shopping season rose 5.1 percent to over $850 billion, the strongest in six years, according to a Mastercard report on Wednesday, as shoppers were encouraged by a robust economy and early discounts.
The data follows Amazon.com Inc’s announcement of a “record-breaking” selling season, with the online retail giant shipping a billion items for free through its Prime membership in the United States.
Amazon’s shares jumped as much as 5 percent, while those of Kohl’s Corp rose 4.2 percent. Macy’s Inc gained 3.6 percent, Nordstrom Inc 3 percent, and Target Corp and Walmart Inc rising over 1 percent.
The strong sales numbers indicated that rising market volatility due to concerns over slowing global growth and political deadlock in Washington has not impacted consumer confidence so far.
-snip-
Read more: https://www.reuters.com/article/us-usa-holidayshopping/u-s-holiday-shopping-season-best-in-six-years-report-idUSKCN1OP0U3
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