Investors are scouring U.S. credit card spending patterns to size up which, if any, trends could give specialty retailers a boost in the summer months...
FILE PHOTO: A person carries a bag from the Abercrombie & Fitch store on Fifth Avenue in Manhattan, New York City, U.S. - Investors are scouring U.S. credit card spending patterns to size up which, if any, trends could give specialty retailers a boost in the summer months.
But big-ticket items, particularly related to living spaces, fell off consumers' shopping lists. Sales of electronics fell 1.9% for the quarter, while homeware purchases dropped 4.2% during the first quarter, versus the year earlier period. Last week, the sporting goods retailer raised its annual profit and sales forecasts on robust demand for footwear and athletic apparel. Its shares are up nearly 45% this year.
After the mixed start to the year for retailers, credit card data is offering investors clues on which products and brands were hot or not as summer got underway. However, it said spending on Victoria's Secret products was down in the mid-single digit percentage range, Under Armour saw a high-single digit fall and North Face was down mid-double digits.
Credit Card Home Depot Specialty Retailers Innovative Products Vuori Sales Forecasts Victoria's Secret Consumer Edge
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