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GREAT AGAIN: Mastercard Reports Biggest Holiday Season Ever Department store stocks jump on holiday spending record Reuters – December 27, 2017

GREAT AGAIN: Mastercard Reports Biggest Holiday Season Ever
Department store stocks jump on holiday spending record
Reuters – December 27, 2017

Shares of U.S. department stores jumped on Tuesday as Mastercard Inc said shoppers spent over $800 billion during the season, more than ever before, boosted by growing consumer confidence, rising employment and early discounts.

Sarah Quinlan, head of market insights for Mastercard Advisors, disclosed the figure after the payments processor’s analytics arm published its SpendingPulse retail report.

The report said holiday sales in stores and online between Nov 1 and Dec 24 rose 4.9 percent, the fastest year-on-year pace of increase since 2011. Mastercard, which tracks spending by combining sales activity in its payments network with estimates of cash and other payment forms, excluded automobile sales from its figures.

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https://ca.news.yahoo.com/u-department-store-stocks-jump-holiday-spending-record-195126015–sector.html

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