Business Corpus: What Retail Apocalypse? Holiday Sales Boast Best Gain In 6 YearsHoliday retail sales grew 5.1% from Nov. 1-Dec. 24 vs. prior year to more than $850 billion, the best gain in six years, according to Mastercard data. The post What Retail Apocalypse? Holiday Sales Boast Best Gain In 6 Years appeared first on Investor's Business Daily.

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Amazon.com (AMZN) bragged Wednesday about another "record-breaking" retail period, but the holidays were good for a lot of other retailers as well this Christmas. Holiday retail sales grew at their fastest pace in six years to top $850 billion, according to Mastercard SpendingPulse data.

Total holiday retail sales from Nov. 1-Dec. 24 rose 5.1% vs. a year earlier, with online spending surging 19.1%. That marks an increase from 2017's holiday retail sales gain of 4.9% and online shopping growth of 18.1%, according to Mastercard SpendingPulse.

Apparel sales jumped 7.9% — the category's strongest holiday sales figure in eight years. Department store sales slid 1.3% from 2017 amid store closures. But department stores' online sales painted a sunnier picture, with 10.2% holiday sales growth.

Home improvement sales popped 9%, and home furnishings spending rose 2.3%.

Meanwhile, electronics and appliances sales declined 0.7%.

But consumer electronics appeared to sell well on Amazon, which highlighted record holiday retail sales of Ring, Blink, and other smart home devices. The Echo Dot, the L.O.L. Surprise! Glam Glitter Series Doll, Carhartt products and Bose QuietComfort Wireless Headphones were some of its best-sellers this season.

Retail analysts had predicted a solid holiday season for the sector, though bifurcation between top retailers and underperforming stores should continue in 2019, further separating the winners from the losers amid a heated e-commerce-driven retail race.

Retail Stocks

Retail stocks have tumbled in recent months, with the stock market correction extending into bear market territory for the S&P 500 index and Nasdaq composite. A number of retailers gave cautious holiday guidance, including Amazon.

Amazon stock skyrocketed 9.45% in Wednesday's stock market trading, as the broader indexes staged their best one-day gains in years. But that's after Amazon stock sank 2.4% on Christmas Eve to a 10-month low. Amazon stock is still down 13% in December.

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The post What Retail Apocalypse? Holiday Sales Boast Best Gain In 6 Years appeared first on Investor's Business Daily.