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Online holiday spending total falls short
Reston, Va. -- A report released Friday by comScore showed that holiday online spending grew 14% year-over-year to $42.3 billion, as individual shopping days reached record spending levels.
Total results, however, fell slightly short of early-season predictions, as softer-than-expected buying occurred during the early to mid weeks of the period.
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Christmas sales soft at Target
Weaker than expected December sales at Target will cause fourth quarter profits to come in at the low end of an earlier forecast, the company said.
Sales at Target for the five week period ended December 31, increased 0.8% to $10.2 billion while same store sales were essentially flat, below the company’s guidance which called for an increase in the low single digits. The performance was driven by a low single digit decrease in comparable store transactions, offset by an increase in average transaction size.