MasterCard Says Holiday Retail Sales Grew A 'Solid' 7.9%, Women's Apparel A Big Seller
According to Mastercard Inc (NYSE: MA), retail sales (excluding auto and gas) grew 7.9 percent during the period of Black Friday to Christmas Eve.
MasterCard SpendingPulse data showed that apparel sales saw a high single-digit growth during the holiday period and women's apparel sales rose in the double digits. On the other hand, men's apparel sales declined.
"Retailers rejoice!," the report stated. "U.S. retail sales saw solid gains this holiday season."
MasterCard also noted a double-digit growth in furniture sales - indicating that consumers are "willing and able to splurge" on big ticket items.
Finally, e-commerce activity grew roughly 20 percent from a year ago, a gain which is not surprising as online retailers offer free or fast shipping.
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