Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Hudson's Bay Company    HBC   CA4442181018

HUDSON'S BAY COMPANY

(HBC)
SummaryQuotesChartsNewsCalendarCompanyFinancials 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

U.S. Cyber Monday sales to hit record $9.2 billion

share with twitter share with LinkedIn share with facebook
share via e-mail
12/02/2019 | 11:47pm EDT
Amazon packages are transported by conveyor belts inside of an Amazon fulfillment center on Cyber Monday in Robbinsville, New Jersey

Cyber Monday sales were on course to bring in a record $9.2 billion, according to evening estimates, building on a bumper Black Friday weekend for U.S. retailers driven by earlier-than-usual promotions and free shipping.

Shoppers have already had nearly a month of offers and deals as retailers look to draw out their vital holiday season, which is six days shorter this year due to a late Thanksgiving.

Adobe Analytics predicted that $72.1 billion was spent online in the month ending Dec. 1, and Cyber Monday - now traditionally the U.S. economy's biggest internet shopping day - had logged a 16.9% jump in sales over the year prior as of 7 p.m. ET.

Adobe, which measures transactions from 80 of the biggest 100 U.S. retailers, said it marked down its prior $9.4 billion forecast slightly as more data came in.

Amazon.com Inc and rivals such as Target Corp and Walmart Inc were poised to benefit from the event, having beefed up delivery services to fulfill online orders more quickly. In-store pickup of online orders has become smoother, too, said Carol Spieckerman, president at consultancy Spieckerman Retail.

"At the end of the day, Cyber Monday is just Black Friday revisited so the momentum, and the deals, really started last week," Spieckerman said.

Adobe also said $3 billion of the estimated sales would be from smartphones, a new U.S. record.

Large companies did well in this channel, outpacing small businesses due to investment in mobile apps and other technology, as well as to larger product and deals selections, said Taylor Schreiner, director of Adobe Digital Insights.

"The big companies are still getting disproportionate growth versus the small ones," he said.

PENTHOUSE PROTEST

The event was not all smooth sailing for the world's biggest online retailer, Amazon. Protesters, who have described poor treatment of warehouse workers and rising climate emissions from the company's push for speedier deliveries, marched outside CEO Jeff Bezos' Fifth Avenue penthouse in New York City on Monday. "We're humans, not robots," read one sign.

Amazon spokeswoman Kristen Kish said unions and groups funded by competitors were "conjuring misinformation" about Amazon, which had industry-leading pay and benefits. The company aims to be carbon neutral by 2040.

Activists also tried to blockade a shopping mall in Paris, denouncing the spread of Black Friday to European shores. The day's shopping in the United States still paled in comparison to Alibaba Group Holding Ltd's "Singles Day" last month, when the Chinese e-commerce giant raked in $38.4 billion in sales.

The U.S. National Retail Federation estimates nearly 69 million Americans will scour the web on Monday for deals on everything from mobile phones to kitchenware, with Adobe estimating the biggest discounts on televisions and computers.

Top sellers included toys from the film "Frozen 2," L.O.L surprise dolls and Nintendo Co Ltd's Switch games console, Adobe said.

"#CyberMonday2019 The day of the year 85% of the U.S. population pretends to actually be working," tweeted Erika Mayor, a user in Miami.

By Aishwarya Venugopal

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on HUDSON'S BAY COMPANY
03/17HUDSON BAY : CORRECTING and REPLACING Hudson's Bay Provides Update on Response t..
BU
03/04HUDSON BAY : HBC Completes Privatization Transaction; Helena Foulkes steps down ..
AQ
03/03RICHARD BAKER : Hudson's Bay Co Chairman Richard Baker to take over as CEO
RE
03/03NEWSALERT : HBC CEO Helena Foulkes out, chairman Richard Baker to take over
AQ
03/03HUDSON BAY : HBC Completes Privatization Transaction
BU
03/03CEO of Saks Parent to Step Down
DJ
03/02HUDSON'S BAY COMPANY : Announces Court Approval of Privatization Transaction
AQ
02/28HUDSON'S BAY COMPANY : Announces Court Approval of Privatization Transaction
BU
02/28HUDSON'S BAY COMPANY : Shareholders Approve Privatization Transaction
AQ
02/28HUDSON'S BAY COMPANY : Shareholders Approve Privatization Transaction; 98 percen..
AQ
More news
Chart HUDSON'S BAY COMPANY
Duration : Period :
Hudson's Bay Company Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers
NameTitle
Richard A. Baker Executive Chairman, CEO & Governor
Iain Nairn President
Edward J. Record Chief Financial Officer
Stephen J. Gold Chief Technology & Digital Operations Officer
Robert C. Baker Director
Sector and Competitors
1st jan.Capitalization (M$)
HUDSON'S BAY COMPANY11.23%1 886
S.A.C.I. FALABELLA13.14%5 574
LOJAS AMERICANAS S.A.0.00%5 253
CANADIAN TIRE CORPORATION, LIMITED-39.22%3 897
NORDSTROM, INC-62.52%2 398
KOHL'S CORPORATION-71.36%2 265