From CNBC: 2024-11-29 07:30:01

Retailers are facing mixed results this holiday season with Target, Kohl’s, and Best Buy reporting disappointing third-quarter results while Walmart, Dick’s Sporting Goods, and Abercrombie & Fitch posted strong sales. The divide is attributed to choosy consumers balancing higher prices and inflation, making successful retailers stand out.

Holiday spending is expected to increase by 2.5% to 3.5% compared to 2023, ranging between $979.5 billion and $989 billion. Retailers like Abercrombie and Dick’s have hiked their full-year outlooks, while Nordstrom and Walmart are more cautious. Walmart saw a promising shift in trends with rising general merchandise sales.

Target and Kohl’s had downbeat forecasts for the holiday quarter, with Kohl’s warning of a deeper sales drop and announcing a change in CEO. Target expects comparable sales to be flat but is trying to attract shoppers with exclusive products inspired by popular movies and by cutting prices on thousands of items.



Read more at CNBC: Retail winners pull away from the pack