More on Holiday 2005

Saturday, January 07, 2006 | 07:20 AM
in Retail

Yesterday, I noted the Good -- Not Great -- Holiday Shopping Season.

Today, I want to delve into this a little more: The NYT reported that the nation's merchants trotted out deep discounts before Christmas, and lured enough last-minute buyers to deliver "decent, if unspectacular, sales gain of 3.2 percent in December."

Let's tack on one more prediction for the holiday shopping season '05:  Margins were significantly pressured by discounting. That may show up as a negative in the Q4 earnings season for retailers, which starts in about 3 weeks.

click for larger chart                                Nyt_retail_q405


Courtesy of NYT

Now we wait for the gift card recipients to shop -- they will put the Coda on the holiday shopping season for 2005 . . .



Retailers Find Little to Cheer
NYT, January 6, 2006

December chain store sales up 3.2 percent
Shopping Centers Today
International Council of Shopping Centers, January 05, 2006

Saturday, January 07, 2006 | 07:20 AM | Permalink | Comments (4) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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Stores don't book sales of gift cards as soon as they are sold? Why not?

They already have the customer's cash, the cards cannot be used elsewhere, and generally the retailers don't offer refunds on the cards, just merchandise.

Also there's always the gift card that never gets used... Do they intend to never book *that* revenue? I don't understand why the earnings from gift cards aren't stated immediately.

Posted by: Idaho_Spud | Jan 7, 2006 9:37:45 AM

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