×
320
Fashion Jobs
LIFE TURN MANAGEMENT CONSULTANT
sr. Manager Production - Sricity, Tada - Mnc Company - Engineering Ind
Permanent · Tada
MCKENZIE
Hiring For Retail Store Merchandiser / Manager
Permanent · Chennai
V2B GLOBAL CONSULTANTS
sr Technician Apparel -Buying Office
Permanent · Gurugram
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
ADIDAS
Senior Product Owner - Machine Learning & ai
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant - Omnichannel
Permanent · GURUGRAM
PUMA
Manager- Warehouse (B2C)
Permanent · Bengaluru
HARMAN FINOCHEM
sr. Manager- Api Production For Srp With Leading Pharma @ Aubad
Permanent · Aurangabad
PNB HOUSING
Area Sales Manager
Permanent · Thane
PNB HOUSING
Area Sales Manager
Permanent · Pune
JM FINANCIAL HOME LOANS LTD
Area Sales Manager - Home Loans
Permanent · Chennai
DANIEL WELLINGTON
IT Support Specialist
Permanent · MUMBAI
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Karaikal
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Thiruvarur
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Tirunelveli
AVANTOR
Area Sales Manager- Lab Consumables
Permanent · Pune
ADIDAS
Manager Brand Activation Originals
Permanent · GURUGRAM
ZACH LIFESTYLE PVT. LTD.
Manager - Content & Social Media
Permanent · MUMBAI
NEW ALFA INTERNATIONAL
Foundry Production Manager
Permanent · Dubai
MEDCIS PATHLABS
Medcis Pathlabs is Hiring For Pathology Area Sales Manager
Permanent · Visakhapatnam
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-b.Tech Fresher-German Mnc -Immediate Joining
Permanent · Bhubaneswar
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-Denmark Mnc - Medical Device or Hearing Aid
Permanent · Chennai
By
Reuters
Published
Apr 7, 2010
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Luxury, Web sales drive retail boost

By
Reuters
Published
Apr 7, 2010

By Alexandria Sage

SAN FRANCISCO (Reuters) - Luxury retailers and e-commerce sites logged the best retail sales growth during March, pointing to growing momentum within the retail sector, according to a report released on Tuesday 6 April.



Sales of luxury items rose 22.7 percent in March, while online sales jumped 18.4 percent, its eight consecutive month of double digit growth, according to MasterCard Advisors' SpendingPulse, which estimates total retail sales across all payment forms.

The strong figures bode well for U.S. retail chains, including Gap Inc (GPS.N), Saks Inc (SKS.N) and Target Corp (TGT.N), which are scheduled to report March same-store sales data on Thursday 1 April.

The jump in luxury spending was a contrast to March of 2009, when luxury sales fell 19.2 percent.

In March 2009, e-commerce sales rose 10.8 percent.

"We're seeing a recovery, or continuing gains from a lot of sectors," said Kamalesh Rao, director of economic research for MasterCard Advisors' Spending Pulse, which bases its data on aggregated sales activity in the MasterCard payments network, together with estimates for payment forms like cash and check.

Wall Street, on average, is expecting same-store sales to rise 6.2 percent in March, according to Thomson Reuters data, boosted by warm weather, an early Easter and an improving job market.

Strength in the teen apparel market, which was heavily battered during the economic downturn, also is expected to boost March sales numbers.

Consumers drastically cut back on spending during the recession as unemployment rose and lending slowed. Retailers selling non-essential products, rather than items like food or gasoline, felt the greatest pinch.

According to SpendingPulse, the apparel sector saw a 5.2 percent rise in sales during March, contrasting with a decline of 12.9 percent in the year-ago period.

"Spring shopping may be a bit more discretionary and we're seeing some willingness to spend a bit more and do a bit more discretionary spending," said Rao.

Still, the data pointed to various sectors that remained weak, such as department store sales that fell 3.2 percent and sales within the auto repair and maintenance sector that fell 3.2 percent.

MasterCard Advisors is the professional services arm of MasterCard Worldwide.

(Reporting by Alexandria Sage; editing by Carol Bishopric)

© Thomson Reuters 2023 All rights reserved.