- Cyber Monday and Black Friday kicked off what is estimated to be a big holiday season, according to Adobe Analytics.
- Shares from big box retailers have enjoyed gains over 6% on Wednesday.
- Macy’s,Target,Nordstrom, and Sears are up.
Retail stocks soared on Wednesday as the wave of good news keeps coming after Cyber Monday and Black Friday.
Adobe Analytics estimated that the US holiday season would deliver $US100 billion in sales for the first time. Online revenues are 13.8% higher compared to last year.
Amazon accounted for half of the sales on Black Friday. Despite announcing that it had its biggest single sales day on Cyber Monday, its shares fell, dragged by an overall decline in tech stocks.
The SPDR S&P retail index jumped 2.79%.
Here’s a roundup of some of the individual companies that are seeing a big boost.
- Macy’s (M)+8.03% $US23.95
- Nordstrom (JWN) +8.04% $US46.04
- Target (TGT)+6.96% $US60.54
- Sears (SHLD) +6.47% $US4.44
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