Retail Roundup: Super Saturday
After weak same-store sales in November, it looks like all the high-end apparel retailers went off the fiscal cliff. Nordstrom (JWN) and Saks (SKS) are about 10% off their 52-week high. Apparel makers Michael Kors (KORS) and Ralph Lauren (RL) are down between 13% and 16%. But I think this weekend will prove to be a blockbuster. In fact, so-called "Super Saturday," also known as the last weekend before Christmas, could be bigger than Black Friday.
According to a survey done by Visa (V) , 73% of consumers still have presents to buy. Retailers blamed Hurricane Sandy and the election for a weak kickoff to the holiday season, but this year there are maximum number of days between Thanksgiving and Christmas. Retailers expected a two-week lull after Thanksgiving, but spending is about to heat back up again....260 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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