Dismal December, but Some Stability, for Retailers
December was difficult for retailers, even as shoppers took advantage of post-Christmas sales and helped stabilize some retail segments, according to the SpendingPulse data service from MasterCard Advisors, which estimates US retail sales across all payment forms.
For the period Nov. 30 through Jan. 3:
- Total sales at specialty retailers, defined as apparel chains and department stores, fell 18.3%, an improvement from the 20.2% decline in November.
- Total sales of apparel fell 17.3%, compared with a 16.7% drop in November.
- Online sales rose 4.6%.
Some stabilization was apparent:
- Footwear sales dropped 12%, less than the 14.4% drop in November.
- Men’s apparel sales fell 11.3%, after having fallen 16.1% in November.
- Sales of electronics and appliances dropped 21.4%, versus a 25.2% drop in November.
Some segments, however, deteriorated further:
- Luxury goods suffered a 27.6% drop, deteriorating from the 24.4% decline in Nov. (and -20.1% in October and -4.8% in September)
- Women’s apparel fell 20.2%, more than the 18.4% decline in November.
- Furniture and furnishings fell 21.4%, versus a 20.0% decrease in November.
International Council of Shopping Centers-Goldman Sachs sales index data showed some post-Christmas lift: Same-store sales rose 1.4% for the week ended Jan. 3 compared with the previous week, but declined 0.8% compared with the year-earlier period.
Sources: Reuters, New York Times, Associated Press