Chain store sales reported a very good November of retail sales according to Thursday's report from Retail Metrics:
Overall, sales at the more than 30 chains tracked by Retail Metrics surpassed estimates last month, rising 5.3 percent for a 14th straight gain, compared with a prediction of 3.5 percent. Sales gained 8.7 percent in March, the largest advance in a decade.
Retailers benefited from more shopping during the Thanksgiving weekend. Estimated sales for the four days reached $45 billion, a 9.1 percent gain from a year ago, as the number of shoppers rose 8.7 percent to 212 million, according to the National Retail Federation. ...
“Across the board, there was widespread strength,” said Ken Perkins, president of Swampscott, Massachusetts- based Retail Metrics. “The consumer is feeling better about their situation and is more inclined to spend on discretionary purchases. It bodes well for what will come over the next three and a half weeks.”
Here is a chart of store sales. I focus on same store sales (3rd column) which ignores new store openings:
Charts courtesy Wall Street Journal.
Disclosure: No positions