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MasterCard Advisors: Hurricane Sandy takes a bite out of early November sales
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.
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Fancy footwork in the shoe department
The footwear category is one fire judging from the recent performance of two leading retailers.
Brown Shoe Co., operator of 1,300 Famous Footwear and Naturalizer stores, said its same store sales for the quarter ended October 27 increased 6.8% and adjusted earnings increased 18.3% to $25.9 million or 51 cents a share.
Rival DSW, operator of 364 stores, said its same stores sales for the third quarter ended October 27 increased 6.1% and adjusted net income increased 17% to $46.6 million, or $1.02 per share,.