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Attention Investors: It's Possible The Holiday Season Wasn't A Disaster

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Attention Investors: It's Possible The Holiday Season Wasn't A Disaster

Retail investors were dealt a major blow last week when Macy's Inc (NYSE: M) and Kohl's Corporation (NYSE: KSS) reported disappointing metrics for their holiday shopping season.

Although 2017 is just a few days old, Kohl's stock is already lower by more than 16 percent since the start of the year, and Macy's stock is lower by nearly 14 percent. Investors are right in thinking that the department store and retail sector will see a rough 2017.

CNBC cited First Data, which said in a report that retail spending rose 3.6 percent during the holiday period. The data was collected from more than 942,000 cash registers across the United States and implies a sales figure that lives up to expectations from the National Retail Federation.

Not All Good News

First Data noted that the best performing retail categories were building materials, electronic and appliance shops, and health and personal care stores.

On the other hand, department store sales fell 4.8 percent while sales of clothing and accessories were flat from a year ago. CNBC noted First Data's report also happens to be consistent with Kohl's and Macy's warning of a declining same-store sale figure in November and December.

Investors will get more of a complete picture on Friday when the Commerce Department releases its December sales figure. The National Retail Federation will follow up shortly after with its report for the full shopping season.

Posted-In: CNBC CNBCNews Topics Econ #s Media General Real Estate Best of Benzinga

 

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