Ultimately, September sales numbers monitored stores open for at least one year, and this report is a key measure of retailer’s health and consumer spending. Will the positive numbers translate into a merry holiday season for retailers? Yes and no.
Retailers are predicting that they’ll see a 1% drop in sales over the holidays. But this is also an improvement over last year’s dismal showing, when sales dropped 3.4%, the Associated Press reports. Consumer confidence is higher than it was a year ago, and shoppers may be more willing to spend.
- SPDR S&P Retail (NYSEArca: XRT): up 71.1% year-to-date
- Consumer Discretionary Select Sector SPDR (NYSEArca: XLY) up 28.5% year-to-date
- Claymore/Robb Report Global Luxury (NYSEArca: ROB) up 42.6% year-to-date
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The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.