📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Mastercard says U.S. retail sales rose 7.6% in holiday season, Wedbush highlights three beneficiaries

Published 12/27/2022, 09:21 AM
Updated 12/27/2022, 09:32 AM
© Reuters.  Mastercard says US retail sales rose 7.6% in holiday season, analyst highlights three beneficiaries
MA
-

By Senad Karaahmetovic

Mastercard (NYSE:MA) announced yesterday that its data showed U.S. retail sales excluding automotive increased 7.6% year-over-year this holiday season (from Nov. 1 to Dec. 24). Online sales rose 10.6% YoY with e-commerce making up 21.6% of total retail sales. Black Friday saw a 12% increase in YoY sales.

Elsewhere, Mastercard also noted a strong increase for in-person dining with restaurants spending up 15.1% YoY.

Inflation altered the way U.S. consumers approached their holiday shopping – from hunting for the best deals to making trade-offs that stretched gift-giving budgets,” said Michelle Meyer, North America Chief Economist, Mastercard Economics Institute. “Consumers and retailers navigated the season well, displaying resilience amid increasing economic pressures.”

Wedbush analysts said Mastercard’s data was “essentially in-line with expectations.” Still, the analysts also saw “a number of interesting twists, including continued, solid strength in eCommerce, BF retains its title as the top spending day of the year, and among the verticals tracked, Restaurants had the strongest performance, while electronics and jewelry posted the weakest performance.”

“We believe these results bode well for the networks (V, MA), as well as for PYPL, which continues to dominate eCommerce,” they said in a client note.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.