Quantcast

Black Friday's (And Cyber Monday's) Biggest Winners And Losers


Shutterstock photo

Black Friday spending shot up nearly 17% to $5.03 billion, according to Adobe Analytics data, and early results for Cyber Monday shopping point to an even bigger day than expected.

[ibd-display-video id=2957283 width=50 float=left autostart=true] Adobe had expected record online Cyber Monday sales of $6.6 billion, which would mark a 16.5% gain from the prior year. But as of 10 a.m. ET today, $840 million had been spent online, representing growth of 16.9%.

Overall web traffic is up 12%, with mobile traffic representing a record high 53.3% of visits plus 39.7% of revenue, Adobe added. Growth was also up sharply from Saturday and Sunday, which brought in a total of $5.12 billion online, up 10.1%.

So which stores are racking up major sales, and which ones are desperate for shoppers?

Toys and gadgets were predictably hot on Black Friday: the Nintendo ( NTDOY ) Switch, Hatchimals and Colleggtibles, PJ Masks, L.O.L. Surprise Dolls, Ride On Cars, and Google ( GOOGL ) Chromecast and Roku ( ROKU ) streaming devices were top sellers, said Adobe.

Computers, TVs and toys were the most discounted products on Friday, and shoppers looking to complete their holiday shopping will likely find great deals on toys again today, as toys are expected to get the biggest price cuts on Cyber Monday. Piper Jaffray said Build-A-Bear Workshop ( BBW ) was the busiest store its analysts visited in both Minnesota and Texas over the weekend.

"Overall, we think (Thanksgiving/Black Friday) was strong even though it continued to be diluted by online sales and earlier sales that began in early November and heightened the weekend before (Black Friday)," wrote B. Riley FBR analyst Susan Anderson. "However, given the cold spurt in early November we believe outerwear was a big purchase early on which left room for apparel purchases over BF, particularly given the new fashion cycle."

At the mall, American Eagle ( AEO ) (and its Aerie brand), Build-A-Bear Workshop, L Brands ' (LB) Pink and Gap (GPS) chain Old Navy came out on top on Black Friday, she said, "managing sales/promos that should lead to good top lines and bottom lines."

Abercrombie & Fitch (ANF) and Abercrombie-owned Hollister also merited callouts from Anderson, although traffic at both stores was lower than that of the top performers. The firm's analysts spotted mall visitors toting Victoria's Secret, Build-A-Bear, American Eagle, Macy's (M), Forever 21 and Lululemon (LULU) bags more than any others.

"Fashion apparel looked to be the key items over TG/BF, while activewear continued to be challenged and even though athletic footwear appeared strong it was mainly driven by discounts," wrote Anderson.

IBD'S TAKE: If you want to understand the state of the market, pay attention to the major averages and leading stocks. Read IBD's Stock Market Today columns throughout the market day, and the end-of-day The Big Picture (take a free trial ) for timely market analysis and highlighted growth stocks breaking out of proper bases.

Struggling Under Armour (UAA) offered 50% discounts at its factory outlets, noted analysts, a contrast to Nike 's (NKE) 25%-off promotion at outlet stores and Adidas ' (ADDYY) more-modest promotions.

But even as shoppers hit the registers this past weekend, the American mall continues to suffer. Brick-and-mortar traffic fell over 7.5% on Black Friday, and same-store retail traffic fell over 3%, according to Cowen, citing national traffic devices. And stores like Sears (SHLD) are doing the best they can to reclaim foot traffic as the heyday of department stores looks to be permanently in the rearview mirror.

Gordon Haskett analyst Chuck Grom called out Wal-Mart (WMT), Kohl's (KSS), Amazon (AMZN), and Dollar Tree (DLTR).

"Looking ahead, roughly 85% stated they intend to make a purchase on Cyber Monday - so taking all of it together ... the weekend looks like it was a winner for most," he wrote.

Macy's shares climbed 0.7% on the stock market today . Gap shares rose 1.3% to 21.21, retaking a 20.87 buy point. Wal-Mart was unchanged. Amazon advanced 0.8%, hitting fresh highs.

RELATED :

Stocks At Record Highs; Amazon Hits 1,200 As Holiday Sales Lift Retail

Retailers Push TVs, Smart Speakers, Apple Devices For Holidays

Why Black Friday Wireless Promotions Lacking For Apple iPhone X

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Stocks
Referenced Symbols: NTDOY , GOOGL , ROKU , BBW , AEO



More from Investor's Business Daily

Subscribe






Investor's Business Daily
Contributor:

Investor's Business Daily

Investing










Research Brokers before you trade

Want to trade FX?