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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barclays PLC    BARC   GB0031348658

BARCLAYS PLC

(BARC)
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Black Friday sales in Britain jump 16.5% by value - Barclaycard

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12/02/2019 | 11:37am EST
FILE PHOTO: People walk past a sign advertising Black Friday offers at a perfume store in Manchester

The value of Black Friday sales in Britain jumped 16.5% compared with last year, according to data from payments firm Barclaycard, in a much needed boost for the country's retailers.

Barclaycard, which processes nearly one pound ($1.28) in every three pounds spent in the United Kingdom, said the volume of transactions on the annual discount day rose 7.2% year-on-year, while the volume of transactions on Cyber Monday was so far up 6.9%.

With recent UK consumer spending subdued, Brexit still unresolved and a Dec. 12 national election creating new uncertainties, retailers have been hoping for a boost from the promotion events that were first brought over from the United States by Amazon in 2010.

Retail researcher Springboard said Black Friday saw a rise in shopper numbers of 3.3% versus 2018.

However, some analysts urged caution in extrapolating Friday's shopping data.

Independent retail analyst Nick Bubb said this year's event was helped by chilly and dry weather.

"The fact that this year it coincided with the November pay day and was a week closer to Christmas means that it was bound to have been stronger than last year and the cannibalisation impact on December trading is yet to unfold," he said.

Though traditionally focused on stores, Black Friday has increasingly become an online event, blending with Cyber Monday to create four days - and often longer - of special offers.

U.S. retailers kicked off Cyber Monday by launching a slew of deals earlier than usual over the weekend, seeking to sustain the momentum of a record $11.6 billion in online sales on Thanksgiving and Black Friday.

(Reporting by James Davey; Editing by Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM -0.12% 1749.51 Delayed Quote.16.62%
BARCLAYS PLC -1.93% 168.013 Delayed Quote.14.06%
HUDSON'S BAY COMPANY -0.99% 9.04 Delayed Quote.24.01%
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Financials (GBP)
Sales 2019 21 531 M
EBIT 2019 7 109 M
Net income 2019 2 475 M
Debt 2019 -
Yield 2019 5,14%
P/E ratio 2019 12,4x
P/E ratio 2020 7,50x
Capi. / Sales2019 1,38x
Capi. / Sales2020 1,35x
Capitalization 29 717 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 195,71  GBp
Last Close Price 171,68  GBp
Spread / Highest target 45,6%
Spread / Average Target 14,0%
Spread / Lowest Target -35,5%
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James Edward Staley Group Chief Executive Officer & Director
Taylor Wright Co-Head-US Equity & Managing Director
Nigel Paul Higgins Group Chairman
Paul Herbert Compton Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
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