From Amazon To Wal-Mart, Retailers Gear Up For The Holidays
Zacks Investment Research | Sep 19, 2017 10:47PM ET
With the holiday season approaching, retailers are gearing up for the busiest part of the year and it goes without saying that competition will be tough, be at brick-and-mortar stores or online. Its a foregone conclusion that retail bellwethers will leave no stone unturned to make the most of the season that accounts for a sizeable chunk of yearly revenues and profits. They will sweep buyers off their feet with early-hour store openings, huge discounts, promotional strategies, and free shipping on online purchases.
However, the recent soft retail sales data for the month of August have somewhat subdued the fervor of retailers. Adding to the woes, is the recent cut in 2017 retail sales forecast by the National Retail Federation. Per the retail trade association, retail sales — excluding autos, gas and restaurant — are expected to jump in the band of 3.2-3.8% down from 3.7-4.2% projected previously.
Market experts asserted that while recent hurricanes resulted in short-term derailment in the economic activity, a lift in the later part of the year remains on the cards. However, they cautioned that a surge in gasoline prices will pinch the pockets of consumers who make bulk purchases during the holiday season. Nevertheless, improving labor market, rising disposable income and elevated consumer confidence indicate sturdy sales during this shopping season.
According to Deloitte, sales during the Zacks Investment Research
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