Budgets/Spending/Market Size

Whatever your political views may be, it’s hard not to think about the impact of the recent presidential election on the consumer psyche, and ultimately our industry. Whether President Obama or Mitt Romney would have been better for the economy in the long run is an issue I’ll gladly leave to the political experts and historians. But I do think that, in the near term, we are less likely to see the big holiday spending numbers that some analysts were predicting.

Purchase, N.Y. -- Spending in most of the key holiday categories, for the first two weeks of the retail month of November was down on a year-over-year basis, according to a SpendingPulse report released by MasterCard Advisors, the professional services arm of MasterCard. Apparel and luxury (excluding jewelry) were particularly hard hit, both showing year-over-year declines in the high 7% range.

Dallas -- Zale Corp. reported a bigger-than-expected first-quarter loss on Tuesday, but said it is on track to turn a profit again.

The jewelry retailer lost $28.3 million for the quarter that ended Oct. 31, compared to a year-ago loss of $31.9 million.

Revenue rose 1.8% to $357.5 million. Same store sales rose 3.9%. It was the chain’s eighth consecutive quarter of positive same-store sales.

Minneapolis -- Best Buy Co. woes continue, as the electronics retailer reported Tuesday a loss of $10 million for the quarter ended Nov. 3, compared with net income of $156 million in the year-ago period. Results were hurt by restructuring charges and slowed sales.

Sales slid 4% to $10.75 billion, but met Wall Street expectations. Same-store sales dropped 4.3%.

Whiting, Ind. -- Survey results released Tuesday by CouponCabin.com revealed that that 47% of Cyber Monday shoppers will spend more money online that day than they will in-store the during the rest of the holiday season. The holiday has gone mobile as well. More than one-quarter (29%) of smartphone and tablet owners plan to shop online on Cyber Monday on their devices.

New York -- Retail sales growth in the United States will rebound from the third quarter this holiday season, but will be down on the previous  two years' robust gains, according to a new report by Moody's Investors Service. The study, "Holiday Sales Will Overcome the U.S. Fiscal Policy Grinch," also finds that earnings growth will be slightly stronger.

Leading footwear retailer DSW said it would open between 25 and 30 new stores next year, adding to an existing base of 364 units.

The company disclosed its expansion plans in conjunction with the release of third quarter results that saw same store sales advance a hefty 6.1% and profits grow by double digits. Adjusted net income increased 17% to $46.6 million, or $1.02 per share, compared to $39.8 million, or $0.88 per share.

Memphis, Tenn. -- Fred's on Tuesday said third-quarter net income dropped 27% amid rising costs and declining same-store sales, as sales in its established stores dropped and its costs rose.

The company reported Tuesday that it earned $6.6 million in the three months through Oct. 27, compared with $9 million a year earlier.

Revenue rose 1% to $450.6 million. Same-store sales were down 2.5%.

General expenses rose 4% to $118.1 million, fueled in party by higher labor costs and new store opening costs.