In a preliminary update on the holiday season, J.C. Penney revealed that its comparable store sales declined. The department store retailer also said it would close three stores and signaled that more store closings could be on the way as it reviews its strategies and store portfolio.
Small household appliances remain hot as the holiday shopping season continues, according to figures from the NPD Group.
The website Offers.com conducted a holiday survey of 1,500 consumers in the U.S. that determined the average shopper will spend $625 on seasonal gifts this year.
Target is kicking off its “Weekend Deals” for the holiday season with a Saturday- and Sunday-only series of savings on kitchen appliances and cookware.
As the holiday season approaches, Walmart is rolling out new initiatives in-store and online that will ease the shopping experience for consumers.
Moody’s Investors Service has changed its outlook for the retail industry in the U.S. to positive from stable.
Consumers said they will spend an average of $1,007.24 during the holiday season this year, up 4.1% from the $967.13 they said they would spend last year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.