January 2, 2023
Report: Holiday Shopping Seen as Lackluster in Early Season Review
The first two weeks of December did not bring much holiday cheer after a lackluster Black Friday and generally disappointing November results. U.S. discretionary general merchandise sales revenue fell over 2 percentage points over Cyber Week (week ending December 3) and 5 percent the following week, according to U.S. retailer point-of-sale data from The NPD Group (NPD). Fourth-quarter retail sales revenue through December 10 was 6 percent below 2021 results, and unit sales were down 10 percent. “The traditional feeling of spirited chaos is missing from retail this holiday season, and not in a good way,” said Marshal Cohen, chief retail industry advisor, NPD. “With just weeks to go in the holiday shopping season, momentum and the urgency to shop are still missing, as the consumer’s need to prioritize higher-priced food is impeding discretionary spending.” | More Information
December 19, 2022
Imports Winding Down as Holiday Season Nears Finish Line
With most holiday merchandise already on retailers’ shelves or in their warehouses, December cargo volume at the nation’s major container ports should be significantly below records set earlier this year, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. “Retailers are in the middle of the annual holiday frenzy but ports are headed into their winter lull after one of the busiest and most challenging years we’ve ever seen,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “We’ve dodged a rail strike and the retail supply chain should be able to easily handle the remaining weeks of the holiday season. But it’s time to settle on a labor contract for West Coast ports and address other supply chain issues that remain so the lull doesn’t become the calm before a storm.” | More Information
EXEC: Smith & Wesson Sees Firearms Demand Recovery Stall
Shares of Smith & Wesson Brands, Inc. lost about 17 percent of its value on Wednesday after the firearms maker reported a 47.5 percent drop in sales in the second quarter ended October 31 due to ongoing inventory rebalancing in the marketplace, combined with the impact of promotional activity by competitors and the trading down by consumers to a lower-priced product. On a call with analysts, Mark Smith, president and CEO, said sales and profitability remain above pre-pandemic levels, with the year-over-year decline reflecting a surge in demand in the year-ago period tied to the pandemic. He also noted that more normal demand levels are expected in the second half of its fiscal year; however, consumer demand for firearms decreased in the latter half of its second quarter. | More Information