There wasn't a lot of color offered in press releases this morning on this great performance, but given the number of retailers that indicated strong gift card sales over the holidays, it looks like there were some pretty strong gift card redemptions taking place in January. Warm weather appears to have helped drive traffic as well and it helped retailers sell spring merchandise at full price.
Quotes about redemptions (5 Quotes)
While retailers are pleased with (Christmas) performance, the holiday shopping season is far from over, since about 60 percent of gift-card redemptions occur between Dec. 26 and the end of January.
We believe year-end redemptions drove a 10 decline in average assets under management to 3 billion.
Retailers continue to report good sales momentum in the post-holiday period, bolstered by gift card redemptions.
While retailers are pleased with last week's performance, the holiday shopping season is far from over, since about 60 percent of gift-card redemptions occur between December 26 and the end of January.