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Online spending on Thanksgiving Day jumped 5.5% compared to a year ago, according to Adobe Analytics, a reflection of holiday shoppers who are buying more of their gifts online and responding to discounts. It does not cover in-store purchases, where the majority of U.S. holiday purchases still take place. And shoppers responded: Online purchases of toys shot up 182% compared to average daily sales in October. Jewelry sales rose 126%, apparel rose 124% and personal care products rose 67%. Mobile shopping played a big role in Thanksgiving sales, with nearly 60% of sales coming through a mobile device — an all-time record for Thanksgiving, Adobe said.
Persons: That's, it's, Mario, Adobe Organizations: Adobe Analytics, National, Target, Disney, Adobe, Marvel, Mobile Locations: U.S
Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. But at 6 a.m. on Friday at a Walmart in New Milford, Connecticut, the parking lot was only half full. "It's a lot quieter this year, a lot quieter," said shopper Theresa Forsberg, who visits the same five stores with her family at dawn every Black Friday. The rise of online shopping has reduced the importance of Black Friday as a single-day event.
Persons: Cowen, David Klink, , Barbara Kahn, Theresa Forsberg, Michael Brown, Kearney, Jimmy Lee, Leah Millis, there's, Jeff Gennette, Bergdorf Goodman, Nordstrom, Oscar de, Carlos Araejo, Ruiz, It’s, Paul Aheren, Puma, Siddharth Cavale, Helen Reid, Arriana McLymore, Katherine Masters, Andrew Hay, Bianca Flowers, Danielle Broadway, James Davey, Deborah Sophia, Miral Fahmy, Nick Zieminski, Frances Kerry, Leslie Adler Organizations: Shoppers, Huntington Private Bank, Walmart, Target, Ross Stores, The Wharton School, University of Pennsylvania, , National Retail Federation, Garden, Insider Intelligence, Adobe Analytics, Adobe, Wealth Consulting, Amazon, REUTERS, Nordstrom, Saks, Protesters, Puma, Israel Football Association, Thomson Locations: RALEIGH, N.C, U.S, New Milford , Connecticut, Paramus , New Jersey, Wheaton, Glenmont , Maryland, Indianapolis, Israel, Palestine, United States, Dallas, Raleigh, Crabtree, Boston
NEW YORK (AP) — Stores stepped up discounts and other enticements on Black Friday to entice shoppers holding out for the best deals. Many retailers ordered fewer goods for this holiday season and pushed holiday sales earlier in October than last year to help shoppers spread out their spending. Political Cartoons View All 1265 ImagesBut this year, retailers said more shoppers are focusing on deals and waiting until the last minute. Salesforce said online sales rose 1% to about $7.5 billion year-over-year on Thanksgiving, as retailers offered better deals. The group has forecast that U.S. holiday sales will rise 3% to 4% for November through December, compared with a 5.4% growth of a year ago.
Persons: Yvonne Carey, Michael Kors, Cary, ” Carey, Jeff Gennette, Macy's, Gennette, Kohl’s, Brian Cornell, Salesforce, Sensormatic, Marshal Cohen, , ” Cohen, , Alexandra Olson, Anne Organizations: Herald, Macy’s Herald, Associated Press, Disney Princess, Target, New Jersey State Police Bomb Unit, Global, National Retail Federation, Adobe Analytics, Adobe, Solutions Locations: Manhattan, Macy’s, New Jersey, New York City, U.S, New York
Buy now, pay later options accounted for around $6.4 billion of online spending in October, according to Adobe Analytics. But while they may offer attractive benefits, such as interest-free payments, they aren't necessarily better or safer than using a credit card. Buy now, pay later payment options essentially allow you to take out a microloan to make a purchase, then pay back that loan in installments. While that may seem like a deal, if you're using multiple buy now, pay later plans, the payments can really add up, Rossman says. If you're choosing between using a credit card or a buy now, pay later option, here's how to decide which is right for you.
Persons: Ted Rossman, Rossman Organizations: Adobe Analytics, CNBC
So are the start-of-the-season deals enticing enough for shoppers or are they holding out in a cat-and-mouse game with retailers? Michael Brown, retail industry leader and partner with management consulting firm Kearney, said the much earlier-than-usual jumpstart to holiday sales this year could be to blame. Shoppers will be holding out for better deals,” he said. Kena Betancur/Getty ImagesTotal holiday sales this year are expected to come in softer compared to last year. He said there were plenty of 25% off Black Friday deals mall-wide and some deeper 40% off promotions for early-bird shoppers.
Persons: New York CNN —, Michael Brown, Kearney, , Brown, Emily Elconin, Marshal Cohen, ” Cohen, Barbie, Willing, they’ve, Kena Betancur, Brian Schroeder, Kendra Scott, , Aeropostale, Aritzia, Shannon Stapleton, Marc Rosen, Rosen, ” Rosen, Nathaniel Meyersohn Organizations: New, New York CNN, , Shoppers, Black, National Retail Federation, Adobe Analytics, Disney Little, Marvel, Macy's, Brookfield Properties, Brookfield Asset Management, Nike, Apple, Simon Property Group, JCPenney Locations: New York, Oaks, Michigan, New York , New York, La Cantera, San Antonio , Texas, Brookfield, Roosevelt, Garden City , New York, Penney
I make $22,000 a month in passive income from online sales through my website, Etsy, Society6, and retailers like Target and Home Goods. The best part is that I spend an average of just two hours a day on DomoINK. On Wednesdays, I typically work on a new art piece and film the entire process to post online. Photo: Domonique BrownMy work was featured in Target's 2023 Black History Month collection. My artwork will also be featured on stationary for Walmart's Black History Month collection.
Persons: I've, Martens, Domonique Brown, Domonique, I'm, Goody, Fleur Organizations: Target, Goods, Disney, Samsung, Lowe's, Adobe, Santa, NASCAR, Walmart, Broad Museum, Angeles County Museum of Art Locations: Santa Monica , California
NEW YORK (AP) — Retailers are kicking off the unofficial start of the holiday shopping season on Friday with a bevy of discounts and other enticements. The group has forecast that U.S. holiday sales will rise 3% to 4% for November through December, compared with a 5.4% growth of a year ago. For the holiday 2021 season, sales for the two-month period surged 12.7%. Many retailers had already ordered fewer goods for this holiday season and have pushed holiday sales earlier in October than last year to help shoppers spread out their spending. But retailers said that many shoppers will be focusing more on deals and will likely wait until the last minute.
Persons: Brian Cornell, There’s, , Marc Metrick, Kohl's, Barbara Lindquist, That's, Lindquist, she’ll, , Sensormatic, Marshal Cohen, ” Cohen, , Anne Organizations: , Shoppers, Walmart, Saks Fifth, Saks, National Retail Federation, Adobe Analytics, Adobe, Solutions Locations: Hawthorne Woods , Illinois, Panama, U.S
Overall, Adobe estimates one in five Americans plan to use buy now, pay later plans to purchase holiday gifts. Retailers have found that customers offered a buy now, pay later option are more likely to have bigger cart sizes or to convert from browsing to checking out. In its report, the Fed cites research that finds that customers spend 20% more when buy now, pay later is available. LexisNexis Risk Solutions provides many buy now, pay later lenders with alternative credit scores for assessing consumers seeking loans, including those who may not have a traditional credit score. In the past two years, Williams has used buy now, pay later plans at stores including Target, BoxLunch, EyeBuyDirect, and Skims.
Persons: Vivek Pandya, Demishia Alford, Alford, , , she’ll, I’ll, I’m, ” Kevin King, Kevin, ” Alford, Jessica Sarceda, ” Sarceda, Sarceda, Allison Williams, Williams, , ” Jinal Shah, Charles Schwab Organizations: , Federal Reserve Bank of New, Adobe, Adobe Digital, , Retailers, Fed, Consumers, Walmart, LexisNexis, Solutions, Nike, Target, Zip, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Federal Reserve Bank of New York, Greensboro , North Carolina, Santa Monica , California, Amelia , Ohio
Americans are preparing to spend money this holiday season at a rate exceeding pre-pandemic levels. And yet, there are also some promising signs that consumers are ready to splurge on deals this holiday season. A new Deloitte survey shows that Americans are preparing to spend money this holiday season at a rate exceeding pre-pandemic levels. Deloitte also found that the people surveyed plan to spend $1,652 this holiday season, up 14% from last year and 10% from the pre-pandemic level of $1,496 in 2019. OCTAVIO JONES/Getty ImagesThe steeper discounts will mean that prices for many products will be cheaper this year compared to last year's holiday season, according to the Wall Street Journal.
Persons: , OCTAVIO JONES Organizations: Service, Deloitte, Black, Adobe, Wall Street
The extension of Black Friday sales and growing strength of other shopping events (hello Cyber Monday ) is also changing what holiday spending looks like today. The term “Black Friday” is several generations old, but it wasn't always associated with the holiday retail frenzy that we know today. In 2003, e-commerce accounted for just 1.7% of total retail sales in the fourth quarter, per the U.S. Commerce Department. BLACK FRIDAY 'MONTH’ AND THE RISE OF CYBER MONDAYIt's no secret that Black Friday sales don't last 24 hours anymore. Offering early deals for holiday sales helps extend that window.
Persons: wasn't, Jie Zhang, Harvey Sanders, University of Maryland’s Robert H, Jay Zagorsky, Zagorsky, I’m, Zhang, it’s, Organizations: National Retail Federation, Army, Navy, Associated Press, Retail Management, University of Maryland’s, Smith School of Business, COVID, Boston University’s Questrom School of Business, U.S . Commerce Department, Commerce Department, Small, National Retail, Adobe Analytics Locations: Philadelphia, York
Deep discounts are driving a strong start to holiday online spending, according to new data from Adobe Analytics. While measuring online holiday spending, the report's emphasis on bargain-driven sales signals that shoppers at brick-and-mortar locations would feel the same way. So far in November Online sales for apparel were up 22% this month compared to daily average sales in October, according to Adobe data. On Black Friday, the big shopping day after Thanksgiving, online spending alone is seen rising 5.7% to $9.6 billion. People carry shopping bags as they visit a department store during the holiday season in New York City.
Persons: Adobe's, Morgan Stanley, bode, TJX, Goldman Sachs, Andy Jassy, we're, Jassy, Jim Cramer's, Jim Cramer, Jim, Eduardo Munoz Organizations: Adobe Analytics, Club, Adobe, Bank of America, Apparel, TJX, Amazon, Amazon Web Services, CNBC Locations: Maxx, New York City
Bring Old Photos of Mom to Life With These Apps
  + stars: | 2023-11-21 | by ( Cordilia James | ) www.wsj.com   time to read: 1 min
Faded baby photos. Water-damaged graduation shots. Old family photos don’t always survive the test of time. In the past, photo restoration was complicated and costly, often requiring an artist to fix the images by hand. Adobe Photoshop and other advanced graphic-design tools shifted the work to computers, but such programs can be too complicated for the average person.
Sales are spread over multiple weeks, and shoppers are going online to snag deals instead of lining up outside a store. Former Walmart employee Karen Baker told Business Insider she worked each Black Friday in her decade with the company and described it as a "free for all." One current and two former Walmart employees told Business Insider that stores in recent years aren't bracing for chaos on the day after Thanksgiving. "It's made just for Black Friday," Baker said of on-sale products that might otherwise appear similar to regularly available merchandise. "Because of my time at Walmart, because me and my husband both have done it, we just don't do Black Fridays," she said.
Persons: , Karen Baker, Baker, Athenia Camacho, Brittany Chang, hasn't, Camacho, It's, " Baker, it's, Mario Tama, abitter@businessinsider.com Organizations: Walmart, Service, Business, Southwest . Business, Black, Southwest, Adobe Analytics Locations: California, Southwest
About 81% of Gen Z workers think in-person office experiences are important, a survey says. AdvertisementIt seems like more and more CEOs are calling their employees back to the office — and some Gen Z workers couldn't be more happy about it. We talked to Gen Z workers — defined as those born between 1997 and 2012 — who say they don't mind working in the office. Adobe surveyed more than 1,000 Gen Z workers in September at medium- and large-sized companies in the US for its Future Workforce Study. For these Gen Z workers, the debate is settled.
Persons: Gen, , Gen Z'ers, Goldman Sachs, Louie Chavez, Chavez, there's, Mary Kate Viceconte, I'm, who've, Viceconte, Andrew Abraham, Abraham, it's, Z'er, Zachary Timms, Timms, Barry Biffle Organizations: Service, Adobe, Goldman, Business, Google, Frontier Airlines Locations: Atlanta, Texas
Every weekday the CNBC Investing Club with Jim Cramer releases the Homestretch audio feature in time for the last hour of trading on Wall Street. Jim thinks AVGO shares will cross $1,000 which will get more people's attention. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, AVGO, Goldman Sachs, Jim Cramer's Organizations: CNBC, Broadcom, VMware, U.S, Adobe, Jim Cramer's Charitable Locations: China
Adobe logo is displayed on a smartphone screen in front of a stock graph in this illustration taken, June 13, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 17 (Reuters) - Figma said on Friday it was carefully reviewing the EU competition watchdog's statement of objections related to Photoshop maker Adobe's (ADBE.O) proposed $20 billion bid to buy out the cloud-based designer platform. The transaction could create a dominant player of interactive product design tools by combining Figma, a clear market leader, and one of its largest competitors Adobe, the commission said. Adobe's chief counsel Dana Rao told Reuters on Wednesday that the company is open to proposing remedies to resolve regulatory concerns. Reporting by Bhanvi Satija in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Figma, Dana Rao, Bhanvi, Shilpi Majumdar Organizations: REUTERS, EU, Big Tech, European Commission, Adobe, Video Communications, Reuters, Thomson Locations: San Francisco, Bengaluru
Get ready for a blowout Black Friday
  + stars: | 2023-11-17 | by ( Hayley Peterson | ) www.businessinsider.com   time to read: +2 min
Black Friday and holiday sales might be bigger and better this year. Retailers may need to offer steeper discounts than last year to entice tepid shoppers to spend. AdvertisementGet ready for some killer sales on holiday goods. All of this could be adding up to a perfect storm for some blowout Black Friday and holiday sales. But the biggest winners of all in a blowout Black Friday, of course, would be shoppers.
Persons: Organizations: Service, Walmart, Adobe Analytics, Target
Mario Tama | Getty Images News | Getty ImagesEarly Black Friday discounts were far higher this October compared to prior years, signaling retailers are concerned that demand could be tepid during the crucial holiday shopping season. Last year, about 30% of overall holiday sales happened online and other non-stores versus physical retail locations, according to the NRF. On average, 7.8% of all items were on sale at some point during the month compared to just 4.9% in 2019 and 3.3% in 2021. In Oct. 2022, prices were down just .7% compared to the prior year and in Oct. 2021, prices were up 1.9% compared to the prior year. The following year, when both inventories and inflation had grown and consumers were starting to feel the burn of high prices, promotions rose.
Persons: Barbie, Mario Tama, GlobalData, They're, it's, Daniel Rubin, John's University's Peter J, Brett House, we've Organizations: Walmart, Getty, Adobe Analytics, Adobe, CNBC, National Retail Federation Retail Monitor, ., Tobin College of Business, Columbia Business School Locations: Burbank , California, GlobalData
[1/4] Consumers struggle to enter a store to buy shoes in a store at a shopping center during Black Friday sales, in Caracas, Venezuela November 25, 2022. WILL SHOPPERS FIND BLACK FRIDAY DEALS THIS YEAR? HOW MUCH ARE SHOPPERS EXPECTED TO SPEND? Spending online during Black Friday is expected to rise 5.7% to roughly $9.6 billion, according to Adobe Analytics. Macy's CEO Jeff Gennette on Thursday said the competitive landscape has shifted to Black Friday deals prior to Black Friday.
Persons: Leonardo Fernandez Viloria, Marcus Collins, Collins, Dana Telsey, Jane Hali, Max, Lancome mascaras, Bobbi Brown concealers, Jeff Gennette, Mattel, Steve Totzke, Juveria Tabassum, Savyata Mishra, Richa Naidu, Helen Reid, Josie Kao Organizations: Black, REUTERS, Retailers, Department, Ross School of Business, University of Michigan, Labor, National Retail Federation, Telsey Advisory, Sensormatic Solutions, U.S, Adobe Analytics, Dollar, Walmart, Associates, Nordstrom, Adobe, Consumers, Deloitte, Electronics, Mastercard, Reuters, Thomson Locations: Caracas, Venezuela, U.S, Europe, Philadelphia, Panama, United States, United Kingdom, China, Bengaluru, London
Final Trades: Adobe, Taiwan Semi & more
  + stars: | 2023-11-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Adobe, Taiwan Semi & moreThe "Halftime Report" traders give their top picks to watch for the second half.
Organizations: Adobe, Taiwan Semi Locations: Taiwan
New York CNN —IBM on Thursday announced it had suspended advertising on Elon Musk’s X, the platform formerly known as Twitter, after an ad for the computing giant appeared alongside pro-Nazi content. The accounts remained active on X Thursday afternoon, hours after the report was published. No brands had specifically targeted the pro-Nazi accounts identified in Thursday’s report for their advertisements, nor did the company intentionally place their ads there, the spokesperson said. Full stop.”IBM is not the first company to part ways with X after its ad appeared next to hateful content. Musk’s X has also come under fire for reinstating the accounts of users who were previously banned on the social media platform, including far-right and neo-Nazi figures.
Persons: Elon Musk’s, , NBCUniversal’s Bravo, Adolf Hitler, Linda Yaccarino, NCTA, Yaccarino, Musk, Jonathan Greenblatt, ” Greenblatt, Musk’s, , Brian Fung Organizations: New, New York CNN, IBM, Elon, Media, IBM —, Apple, Oracle, Comcast, NBCU, CNN, and Television Association, Gilead Sciences, Adobe, Adobe , New York University Langone Hospital, University of Maryland’s, Whites, Defamation League Locations: New York, Nazi, Adobe ,, America
Adobe logo is seen on smartphone in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsCompanies Adobe Inc FollowBRUSSELS, Nov 15 (Reuters) - Photoshop maker Adobe (ADBE.O) expects to get an EU antitrust warning on its $20 billion bid for cloud-based designer platform Figma and is open to proposing remedies to resolve regulatory concerns, its chief counsel told Reuters on Wednesday. The Adobe deal comes amid heightened regulatory scrutiny around the world on Big Tech acquisitions which boost dominant companies' market power or those involving start-ups seen as nascent rivals. "We are expecting a statement of objections from the European Commission," Dana Rao said in an interview, confirming a Reuters story on Tuesday. "We are certainly open to the discussion of remedies.
Persons: Dado Ruvic, Dana Rao, Rao, Foo Yun Chee, Kirsten Donovan Organizations: REUTERS, Inc, Adobe, Big Tech, European Commission, Thomson Locations: EU
Microsoft on Wednesday announced a slew of new capabilities coming to the Copilot artificial intelligence add-on for its Microsoft 365 productivity applications. There are concerns about whether Copilot for Microsoft 365 is worth $30 per person per month. Copilot will be able to create Teams chat messages and come up with tone changes. During Teams meetings, the Whiteboard tool can automatically create visualizations of ideas that people discuss. In PowerPoint, Copilot will be able to create slides that include AI-generated images based on brand assets, with the help of the Microsoft Designer app.
Persons: OpenAI, Jared Spataro, Dana Organizations: Microsoft, Wednesday, Adobe, Google, CNBC Locations: Seattle
ValueAct Capital has taken a significant stake in Disney (DIS) and has been in dialogue with Disney's management, the Activist Spotlight has learned. It operates through two segments, Disney Media and Entertainment Distribution; and Disney Parks, Experiences and Products. Activist Commentary: ValueAct has been a premier corporate governance investor for over 20 years. ValueAct began buying Disney this summer during the WGA and SAG strikes and it is one of the firm's largest positions. This certainly gives the Disney board an alternative they were not expecting.
Persons: ValueAct, Warner, Mason Morfit, Wordle, Bob Iger, Iger, Satya Nadella, Steve Ballmer, Nelson Peltz, Ken Squire Organizations: ValueAct, Disney, Business, Disney Media, Entertainment, Disney Parks, Warner Bros, Paramount, Netflix, WGA, SAG, Microsoft, Adobe, New York Times, Spotify, Century Fox, ESPN, Hulu, Athletic, Trian Partners, 13D Locations: Salesforce
Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Honeywell International (HON): This is the most undervalued stock in our portfolio, Jim said. In a diversified stock portfolio, Jim said there's always room for high-quality companies like P & G, which also has a track record of raising its dividend. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club.
Persons: Jim Cramer's, Jim, Bausch, That's, Dupont De Nemours, Dupont, Danaher, Walt Disney, Estee Lauder, Locker, Vimal Kapur, we're, We've, we've, Linde, Eli Lilly, Eli, hasn't, Mark Zuckerberg, Meta's, Zuckerberg, Morgan Stanley, Morgan Stanley's, Ted Pick, James Gorman, he's, there's, Patience, Stanley Black, Decker, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Amazon Web Services, Broadcom, VMWare, Bausch Health, Caterpillar, Costco Wholesale, Coterra Energy, Disney, Eaton Corp, Emerson, Ford, Union Auto Workers, GE Healthcare Technologies, General Electric, GE, Management, Google, YouTube, Honeywell International, Honeywell, Linde, LIN, Reality Labs, Microsoft, Nvidia, U.S, Oracle, Palo Alto Networks, Procter & Gamble, Starbucks, Constellation Brands, Corona, Modelo, Stanley, TJX, Wynn Resorts, WYNN, Trust Locations: China, India, Salesforce's, redeploy
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