Though spending (especially online spending) was way up this holiday season, many stores’ December sales numbers still fell below investors’ expectations. The AP reports that even though “retailers sealed their strongest holiday sales increase since 2006,” some companies didn’t make Wall Street analysts’ estimates–including Target, Bon-Ton, Costco and Gap. Bon-Ton company officials blamed the extreme snow that blanketed most of the northeast immediately after the holiday for their less-than-impressive figures.
It wasn’t all bad news, though: “Among the winners was Abercrombie & Fitch Co., which saw robust gains that beat Wall Street estimates. Luxury stores, including Saks Inc. and Nordstrom Inc., also showed big increases as the rallying stock market kept affluent customers spending.”
November and December are typically retailers’ biggest months; January sales are usually slow.