Target said Wednesday that its 2019 holiday sales missed expectations, due in part to weakness in toys, electronics and home goods.
But the latter has lost anchor stores such as Toys R Us in the last decade.
more than 102 million U.S. credit card holders.
Some analysts say they weren’t expecting toy sales to match the growth of the prior holiday season, when the closing of Toys ‘R’ Us stores sent shoppers elsewhere.
online sales rose nearly 19%.
What happens to my Toys "R" Us credit card? You can use the credit card through the end of the liquidation sales, according to the company, but any rewards or discounts attached to the card cannot be.
Some analysts say they had been expecting sluggish toy sales given the big sales lift many retailers reported last year after Toys ‘R’ Us closed all stores.
according to Mastercard SpendingPulse.
The top two trouble categories for Target seemed to be electronics and toys. The retailer bet big on the toy category.
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What a difference a year makes. U.S. retailers have gone from peak Christmas to weak Christmas, judging from “lackluster”.
Target was strong where it needed strength, and that bodes well for the rest of the year – Target said its same-store sales during the 2019 holiday season were up just 1.4%, missing its expectations. But analysts say.
Holiday sales were flat, report says – Retailers were also boosted in 2018 by the demise of Toys R Us, but that benefit largely disappeared a year later.
In Citi’s consumer group, profits rose 12 percent from a year earlier, helped by.