[CNBC Television] These are the biggest retail losers of the 2019 holiday season
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Some holiday sales numbers are out and the retail sector is feeling the heat. Liz Dunn of Pro4ma and Oliver Chen of Cowen join CNBC’s “Power Lunch“ team to discuss the winners and losers from the holiday season.
For many, the holidays spark joy, and are a time to relax in the comfort of family and friends.
If you’re in retail, however, it’s a bit of a different story — especially if your business is struggling.
Some retail executives really feel the pressure this time of year, as the holiday season can make or break a business. For some companies, the holiday season can account for as much as 30% of annual sales. A company’s performance during this time, good or bad, can set the tone for the new year. And the beginning of the year is often when announcements of store closures and layoffs in the industry will trickle out.
“There is something to be said about creating momentum and having a strong fourth quarter,” said Rob Garf, vice president of strategy and insights for Salesforce with a focus on retail. “There are going to be some winners and losers this holiday season. The winners have made a ... focus on digital transformation, pervasive in their culture.”
The losers, however, haven’t invested enough to make their stores and websites worth visiting.
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