Retailers had their best holiday season in the last seven years
Retailers had a great holiday season in 2017 with a 4.9% YoY (year-over-year) jump in holiday sales (excluding automobiles) between November 1 and December 24, 2017, according to MasterCard SpendingPulse.
Holiday sales recorded the highest year-over-year increase in sales since 2011. Sales numbers outperformed the National Retail Federation’s projection of a 3.6%–4% jump (excluding automobiles, gasoline, and restaurants) and eMarketer’s forecast of a 3.1% rise.
“Overall, this year was a big win for retail. The strong U.S. economy was a contributing factor, but we also have to recognize that retailers who tried new strategies to engage holiday shoppers were the beneficiaries of this sales increase,” said Sarah Quinlan, senior vice president of Market Insights at Mastercard.
How did Lululemon perform?
Lululemon Athletica (LULU) was among the retailers that saw strong momentum this holiday season. The company recorded its highest-ever traffic and sales numbers this Black Friday and Cyber Monday.
Following a strong holiday season, Lululemon raised its sales and earnings outlook for the fourth quarter, which ends January 28, 2018.
“We are thrilled with our performance this holiday season that reflects an accelerating trend across all parts of our business, and we look forward to continued momentum in 2018 and beyond,” said Laurent Potdevin, CEO of Lululemon Athletica. Read the next part of this series to learn more about the revised guidance.