Investing.com - Amazon led retailers higher Monday on expectations that the Black Friday and Cyber Monday sales bonanza would bolster the e-commerce giant's top-line growth.
Amazon (NASDAQ:AMZN) said Monday that Black Friday sales in UK hit "record levels," and touted "deeper discounts and even more selection" for the Cyber Monday sales event, sending its share price more than 3% higher.
Cyber Monday is widely expected to haul in record online sales, continuing the trend from Black Friday, which pulled in $6.22 billion in online sales, up nearly 23.6% from a year ago, setting a new high, according to Adobe Analytics. Cyber Monday online sales are expected to set a new record of $7.8 billion, up nearly 18% from last year, Adobe added.
Kohl’s (NYSE:KSS) rose more than 1% as the retailer is expected to build on its strong showing from Thanksgiving Thursday, when it posted record online sales.
Canada Goose (NYSE:GOOS) fell 1% despite analysts saying the cold snap that swept through the Northeast last week drove up demand for cold weather goods including sweaters and jackets.
The SPDR S&P Retail index (NYSE:XRT) was up more than 1%.