In today’s top retail news, Sally Beauty reported that its second-quarter consolidated same-store sales increased by 6.5 percent, while Wayfair reported that its total revenue surged by nearly 50 percent year over year. Plus, a new economic analysis indicates that consumers are eager to spend.
Sally Beauty, which operates about 5,000 retail locations, reported that its second-quarter consolidated same-store sales rose 6.5 percent as its net sales also climbed amid an increase in domestic consumer demand. “In the U.S., we saw an acceleration in consumer demand in the latter part of the quarter, which drove a net sales increase of 6.3 percent,” President and Chief Executive Officer Chris Brickman said in an earnings announcement.
Wayfair reported as part of its financial results that total revenue soared by 49.2 percent year over year to $3.5 billion in Q1 2021. The furnishings and home goods eCommerce platform reported that its number of active customers surged by 57.3 percent to 33.2 million as of March 31. Repeat customers placed 74.5 percent of total orders in Q1 2021.
U.S. consumers who have been stuck in the house are excited to dress up, get out, dine in eateries and reconnect with the world, as shown by new economic analysis. The April Mastercard SpendingPulse reportindicated that U.S. retail sales surged by 23.3 percent in April compared to a year prior, marking the newest sign that the economy is recovering.
Etsy announced as part of its first-quarter earnings that the “incredible momentum” it experienced in 2020 during the pandemic-related lockdowns continued into Q1. However, the marketplace company cautioned that its triple-digit cadence of growth would slow down along with a wider forecast deceleration in eCommerce.
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