Cantor Fitzgerald: Cyber Five Results Bode Well For E-Commerce Group, But Omnichannel Retailers Stand Out
Youssef Squali commented in a note on Wednesday that Cyber Monday results showed decelerating growth over the prior days but looking at the entire Thanksgiving five-day period, data points indicate a “very positive” read.
According to Adobe Cyber Monday sales were up 16 percent from a year ago with the top 25 retailers seeing sales rise by 25 percent. The analyst notes Amazon.com, Inc. (NASDAQ: AMZN) was a “big beneficiary” while eBay Inc (NASDAQ: EBAY) surprised to the upside with a growth rate of 20.5 percent year-over-year after a slow beginning on Thanksgiving Day.
However, Squali adds that omnichannel players are emerging as winners so far. The analyst notes that data from ShopperTrack and NRF show negative year-over-year growth for retail sales, but the online components of omnichannel retailers like Wal-Mart Stores, Inc. (NYSE: WMT), Best Buy Co Inc (NYSE: BBY), Target Corporation (NYSE: TGT), Sears Holdings (NASDAQ: SHLD) and Nordstrom (NYSE: JWN) are doing well with 54.4 percent year-over-year growth.
Squali notes that omnichannel sales are benefiting from retailers focusing on the importance of online sales, back-end and customer support platforms, consumer-friendly moves, price matching, in-store pickup, and earlier than usual aggressive price promotions.
Latest Ratings for AMZN
|Oct 2016||Credit Suisse||Maintains||Outperform|
|Oct 2016||SunTrust Robinson Humphrey||Maintains||Neutral|
|Oct 2016||Morgan Stanley||Maintains||Overweight|
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