Traffic statistics at American malls in the early days of this year’s expanded holiday shopping season fell in step with the volume of COVID-19 cases being reported—except during gift-buying crunch time in December.
Confounding dour predictions of soggy holiday sales — and defying COVID headwinds — America’s resilient shoppers drove the November-December holiday period to a record-breaking $768 billion in sales, a remarkable 8.6% leap from last year’s $707 billion.
Signet Jewelers Ltd. projected better-than-expected sales for the fourth quarter, following a robust holiday season during which all its U.S. banners posted positive same-store sales.