News

Holiday Shopping

Walmart Beats Q3 Estimates, Has Increased Inventory Ahead of Holiday Season

Kimberly Redmond | Equities.com |

Walmart Inc (NYSE: WMT) has yet to see a large wave of early holiday shoppers this year but expects that will change after the company kicks off its Black Friday sales, which will be spread across the month of November this year. Many retailers, including Target (NYSE: TGT), Best Buy (NYSE: BBY) and Amazon (Nasdaq: AMZN), began holiday promotions in October, warning consumers of longer delivery times and reduced product availability while urging shoppers to buy in-demand items as soon as they see them.


Walmart To Raise Hourly Wages by at Least $1 for 565,000 Workers Effective September 25

Reuters | Equities.com |

Walmart said on Thursday that it plans to raise wages for more than 565,000 store workers by at least $1 an hour, as the all-important holiday shopping season is set to kick off in the middle of a desperate labor crunch across the country.

With its third wage investment over the past year, Walmart's U.S. average hourly wage is now $16.40, Walmart U.S. Chief Executive John Furner said in a memo to staff.


Best Buy To Close All Stores on Thanksgiving Day

Kimberly Redmond | Equities.com |

Best Buy Co Inc (NYSE: BBY) stores will once again be closed on Thanksgiving Day 2021, joining a growing list of retailers who have already announced similar plans.

The closures mark the second year in a row that several major chains, including Walmart and Target Corporation, will be dark on what has traditionally been a huge holiday shopping day in conjunction with Black Friday.


MasterCard Reports Holiday Retail Sales Rose 3% With Online Shopping Up 49%

Reuters | Equities.com |

U.S. retail sales rose 3% during this year’s expanded holiday shopping season from Oct. 11 to Dec. 24, a report by Mastercard Inc said on Saturday, powered by a pandemic-driven shift toward online shopping.

U.S. ecommerce sales jumped 49% in this year’s holiday shopping season, according to Mastercard SpendingPulse report, underscoring the COVID-19 pandemic’s role in transforming customers’ shopping habits.

Holiday e-commerce sales made up 19.7% of total retail sales this year, the data showed, noting that options such as buy online and pick-up-in-store, contactless technologies were key for retailers.


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