Retail stocks are gaining on Cyber Monday (AMZN, WMT, HD, JCP, BBY)
- Cyber Monday is expected to be the largest, single shopping day in history.
- Retail stocks are on the rise in early hours of the holiday.
- Amazon's stock was leading the pack, up 2.04%.
With Black Friday officially in the books, US retailers are now taking part in Cyber Monday — which is expected to be the largest online shopping day in history.
Adobe Analytics predicts $6.6 billion in sales during the online-only holiday, and $107.4 billion in total online shopping this holiday season. Retail companies had to offer steeper discounts than usual to lure customers to shop, and even if sales were strong, margins could have been compressed due to the high discounts.
Amazon was one of the best performing retail companies on Black Friday. The company rose 1.95% during the shortened trading day.
The S&P retail index as tracked by SPDR fell 0.43% on Friday, indicating a general decline in most retailers, but is trading 1.13% higher early on Monday.
Here's a roundup of how some individual companies are doing on Cyber Monday.
- Walmart (WMT) +0.56% $97.13
- Amazon (AMZN) +2.04% $1,209.30
- Best Buy (BBY) +1.74% $58.07
- JCPenney (JCP) +1.53% $3.31
- Macy's (M) +0.90% $21.26
- Target (TGT) +0.75% $56.38
- GAP (GPS) +2.80% $30.45
- Nordstrom (JWN) +0.27% $41.07
- Sears (SHLD) +0.53% $3.82
- CostCo (COST) +0.41% $172.23
- Home Depot (HD) +0.70% $173.22
- Wayfair (W) +1.17% $69.05
Read more about how strong Black Friday sales could be an ominous sign for the industry.
SEE ALSO: Black Friday sales are surging — and it reveals an ominous reality about the retail industry
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Contributer : Tech Insider http://ift.tt/2AgYMbp
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