As Thanksgiving approaches towards week’s end, stocks have risen in anticipation of Black Friday. The gains in sales during the first half of November have given hope that the day after Thanksgiving, which is the traditional start to the retail industry’s biggest sales period, will launch a flourishing holiday selling season.
MasterCard Advisors’ Spending Pulse, which tracks national retail and service sales, showed that total apparel sales rose 9.7% in the first half of November. Online sales rose 11.4% during the same period, while electronics and appliance sales rose 0.7%
In terms of retail stocks, shares of Macy’s Inc. rose 2.7%, Sears Holdings Corp rose 2.6%, Best Buy Co. rose 2.8%, and shares of Wal-Mart Stores Inc. also rose slightly.
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