Shoppers may be out and about this Black Friday, but there aren't enough Star Wars toys, 4K TVs, PlayStation 4s and Beats headphones on the planet to push most major retail stocks into the black anytime soon.
In general, it has been a lousy year for traditional retailers. Consumers have been surprisingly cheap, despite improvement in the job market and low gas prices. Sales have been sluggish in the U.S, and the strong dollar has hurt the overseas operations of many big retailers.
But the American consumer hasn't cut up their credit cards and stopped shopping for good. A quick look at the year-to-date stock performance of several big retail stocks clearly shows what the real story is.
Just look at the numbers: Walmart: Down 30%, Target: Down 4%, Sears: Down 32%, Kohl's: Down 21%, Nordstrom: Down 22%, Macy's: Down 39%, Best Buy: Down 17%. Amazon is Up by 118%!
Amazon is now trading near an all-time high and has a market value of $317 billion. That's $32 billion more than the COMBINED market value of the other seven retailers listed above.
Every day is Cyber Monday for Amazon. The rise of online shopping is clearly hurting traditional retailers. According to figures from Adobe, online sales growth on Thanksgiving was up 24% from a year ago.
Walmart, Target and other big retailers are investing heavily in their digital operations. But it may not be enough to compete Amazon anytime soon.
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