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Shoppers will spend half their holiday budget during Thanksgiving sales
Washington, D.C. -- More than 60% of consumers will start holiday shopping on Black Friday and most will spend more than 50% of their holiday budget over the Thanksgiving weekend, according to research by the Georgetown Institute for Consumer Research, sponsored by KPMG.
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Stein Mart swings to profit in Q3
Jacksonville, Fla. -- Stein Mart reported a return to profit in the third quarter, recording net income of $28,000 for the period ended Nov. 2, compared with a loss of $1.7 million last year. Results matched Wall Street expectations.
Revenue climbed 6% to $290.5 million from $273.7 million, topping Wall Street's estimate of $287.9 million. Same-store sales rose 4.8%.