CHICAGO, Dec. 2, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Target Corp. (NYSE:TGT-Free Report), Wal-Mart Stores Inc. (NYSE:WMT-Free Report), PetSmart, Inc. (Nasdaq:PETM-Free Report), Best Buy Co., Inc. (NYSE:BBY-Free Report) and Office Depot, Inc. (Nasdaq:ODP-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Monday's Analyst Blog:
Early Promos Cut into Black Friday Sales
It was a tepid Black Friday weekend after all as early promotional strategies adopted by the retailers took off most of the sheen from the weekend unemployment rate, higher consumer confidence and improving consumer spending? They did deal out eye-popping discounts for the season quite early through exclusive on-line and off-line deals.
Data compiled by National Retail Federation (NRF) estimates that total spending over the Thanksgiving weekend might have declined 11.3% to $50.9 billion from the prior year's estimate of $57.4 billion. Moreover, the nation's largest retail trade group indicated that traffic over the four-day period decreased 5.2%.
So, did the retailers jump the gun, overeager as they were to cash in on the brimming optimism brought from a rebounding economy, a falling
to an estimated 133.7 million, indicating that bargain-hunters have already got their share of the cake.
The study also hinted that 55.1% of shoppers might have been in the stores and online over the Thanksgiving weekend versus 58.7% last year. However, the retail trade group's survey said that Black Friday did see 86.9 million holiday shoppers descending to the stores and online, where 32.2% shopped on Thanksgiving Day, almost flat with the prior year.
NRF data also revealed that 50.7% of holiday shoppers indicated that they shopped at department stores over the weekend, while 34.6% at discount stores and 29.1% at electronics stores. Discount, variety stores such as Target Corp. (NYSE:TGT-Free Report) and Wal-Mart Stores Inc. (NYSE:WMT-Free Report) witnessed robust traffic on Thanksgiving Day as shoppers flocked to seize deals on big-ticket electronic items. Target registered record Thanksgiving online sales, while Wal-Mart experienced its second biggest online sales last Thursday after 2013 Cyber Monday.
The data collected by IBM unfolds that online sales grew 9.5% on Black Friday following a 14.3% increase on Thanksgiving due to a boost in mobile commerce thanks to advanced handheld devices and smartphones.
Despite the Black Friday weekend disappointment, retailers still have the holiday season spread out in front of them. They continue to woo shoppers with promotional events, free shipping on online purchases, heavy discounts or adopting price-matching strategies.
NRF had forecast a 4.1% jump in holiday sales (November and December) to $616.9 billion against 3.1% growth registered last year. This is even better than the 10-year average sales increment of 2.9%. Online sales for this holiday season are also projected to increase 8–11% to approximately $105 billion, according to Shop.org.
We believe the retail landscape has completely morphed with the transition of the economy, advent of new technologies and increasing consumer expectations. The retailers who are efficiently allocating a large chunk of their capital toward multichannel growth strategy, focused on improving merchandise offerings, developing IT infrastructure to enhance the web and mobile experience of customers can withstand the competitive retail environment better.
Some of the retail stocks that fall in the above category include PetSmart, Inc. (Nasdaq:PETM-Free Report), Best Buy Co., Inc. (NYSE:BBY-Free Report) and Office Depot, Inc. (Nasdaq:ODP-Free Report).
While PetSmart sports a Zacks Rank #1 (Strong Buy), Best Buy and Office Depot and Lowe's are Zacks Rank #2 (Buy) stocks.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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