Retail sales during the holiday season in 2020: A numerical overview
The 2020 holiday season was a challenging time for retailers, with the COVID-19 pandemic causing significant shifts in consumer behaviour. This was particularly evident in the rise of online shopping and disruptions to in-store traffic.
GameStop, a specialist retailer, experienced a surge in demand for the latest generation of game consoles, resulting in a 4.8% increase in comparable sales. However, a reduction in store base and store traffic declines caused by the surge in COVID-19 during the season led to a 3.1% decline in its top line.
Large department stores like Kohl's and Nordstrom faced challenges due to store closures. Kohl's digital sales in the fourth quarter were up 20% and represented more than 40% of net sales, but the company's overall sales and comparable sales for the quarter are not specified in the available data. Nordstrom's net sales fell 22% for the nine-week holiday period, but digital sales rose 23%.
Signet Jewelry, another specialist retailer, shuttered 355 of its planned 380 store closures this fiscal year. Despite this, the company's sales for the nine weeks ending Jan. 2 were flat year over year, with digital sales up nearly 61%.
Destination XL, a retailer of big and tall men's clothing, saw a 23.9% decline in total sales for the nine-week holiday season, with store comps down 38.1%. However, e-commerce grew 28.4% during the same period.
Target, a retailer with a strong omnichannel strategy, posted a strong holiday performance. Digital comparable sales were up 102%, and store comps increased 4.2% for November and December. Sales through Target's Drive Up service and Shipt delivery option also saw significant growth, with Drive Up sales ballooning by 500% and Shipt sales up 300% during the holiday season.
Luxury brands like Tiffany (owned by LVMH) were more impacted early in the pandemic but gained momentum during the holiday season as consumer spending recovered. Tiffany's holiday season net sales rose 2%, and comps rose 4%, despite a 5% drop in sales in the Americas.
Urban Outfitters named Sheila Harrington as its new CEO, replacing Trish Donnelly who is leaving for another opportunity. The specific impact of the pandemic on Urban Outfitters' holiday season sales is not specified in the available data.
ICSC estimated a 1.9% rise in spending for the holiday season, while Deloitte predicted a "K-shaped" approach to the season, with growth ranging from 0% to 1% to up to 3.5%.
Higher holiday pay and shipping expenses hit Nordstrom's margins, and the company expects a 500 basis points decline in fourth quarter EBIT margin. Many retailers worked hard to get customers to shop early, potentially shifting some holiday sales into the third quarter.
Accessing the financial reports from Q4 2020 or industry market analyses would provide more precise sales numbers for each retailer during that specific period. The search results here do not contain those details.
- The surge in demand for game consoles at GameStop led to a 4.8% increase in comparable sales, but a decline in store traffic due to the pandemic caused a 3.1% decline in its top line.
- Kohl's digital sales increased by 20% during the fourth quarter, representing more than 40% of net sales, though the company's overall and comparable sales for the quarter are not specified.
- Nordstrom's net sales declined by 22% for the nine-week holiday period, but digital sales rose by 23%.
- Signet Jewelry, despite shuttering 355 stores this fiscal year, managed to maintain flat year-over-year sales with a digital sales increase of nearly 61%.
- Destination XL experienced a 23.9% decline in total sales for the nine-week holiday season, yet e-commerce grew by 28.4%.
- Target posted a strong holiday performance with a 102% increase in digital comparable sales and a 4.2% increase in store comps for November and December.
- Tiffany's holiday season net sales rose by 2%, and comps rose by 4%, yet sales in the Americas dropped by 5%.
- The impact of the pandemic on Urban Outfitters' holiday season sales is not specified in the available data, and the company appointed Sheila Harrington as its new CEO.
