Holiday sale

Black Friday ends Christmas sales – FBC News

Jewelry retailer Michael Hill International said strong Black Friday weekend shopping activity in November appeared to push holiday sales forward, with a “significant” increase in foot traffic and overall sales in November.

November has been a major shopping month for retailers across all industries, with Singles Day on November 11 in China, Black Friday and Cyber ​​Monday.

“While the change in consumer behavior resulted in a significant increase in November sales in all markets, our sales in early December were somewhat disappointing,” said Managing Director Daniel Bracken.

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“The pressure on gross margin continued in all markets, with significant discounts from many competitors. “

The Australia-based retailer, which also operates in New Zealand and Canada, said all countries saw positive sales growth in the first half and second quarter ended Dec.31.

Comparable store sales in Australia rose 1.6% for the quarter, but the company said Christmas trading was tough with large and lasting discounts.

New Zealand same store sales increased 5% for the quarter and were Michael Hill’s most productive market.

Comparable store sales in Canada increased 1.4% for the quarter, following a strong performance the previous year.

The company said the Canadian business presented a new growth opportunity, with investments in training, personnel and logistics.

“There is real enthusiasm across the company with a focus on delivering initiatives that continue into the second half of the year,” said Bracken.

Official figures show that sales using electronic cards fell 0.8% on a seasonally adjusted basis, compared to an increase of 2.9% in November.

The largest decline was recorded for sales of durable goods, such as furniture, hardware, household appliances, and sporting and leisure goods, down 2.5%.

“The drop in durable goods follows a very strong November,” said Sue Chapman, retail manager of Stats NZ.

These were the heavily discounted product types that were promoted during Black Friday and Cyber ​​Monday sales in November.

Spending on food, beverages and groceries increased slightly.

Actual sales reached $ 7 billion for the first time, with sales 4% ahead of last year.

Electronic card sales numbers cover approximately two-thirds of retail activity.

Rising home values, wages and low interest rates have been credited with improving consumer confidence and retail spending

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