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Sterne Agee Answers: Who Was More Promotional During Cyber Monday?

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Ike Boruchow of Sterne Agee commented in a note on Tuesday that there was a “noticeable step-down” in discounting for retailers during Cyber Monday following a “highly promotional” Black Friday weekend.

According to Boruchow's checks, only 33 percent of the 43 brands tracked by the analyst offered deeper discounts on Monday. The analyst notes that in-store traffic is generally a larger concern for retailers than online traffic, which may explain why fewer retailers were promotional on Cyber Monday.

“That said, this is a positive read-through as it may indicate that most retailers are not falling behind plan early in the holiday season,” Boruchow wrote.

Boruchow believes that Urban Outfitters, Inc.'s (NASDAQ: URBN) Anthropologie brand along with Children's Place Inc (NASDAQ: PLCE), Fossil Group Inc (NASDAQ: FOSL) and Gap Inc's (NYSE: GPS) Old Navy were more promotion with discounts and sales.

On the other hand, the analyst notes that L Brands Inc (NYSE: LB), Signet's Jewelers ltd. (NYSE: SIG) recently acquired Zales and Carter's, Inc. (NYSE: CRI) were less promotional, while Coach Inc (NYSE: COH) did not participate in Cyber Monday with the exception of a free shipping offer.

Latest Ratings for COH

DateFirmActionFromTo
Nov 2017SusquehannaInitiates Coverage OnPositive
Oct 2017BairdMaintainsOutperform
Oct 2017BuckinghamMaintainsBuy

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Posted-In: Anthropologie Children's Place Coach Cyber Monday Fossil Ike BoruchowAnalyst Color Analyst Ratings

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