Census Data: U.S. Retail Down 2%, Amazon Up 24%
Amazon.com, Inc. has been saved by the Census.
Two weeks after issuing underwhelming fourth-quarter financials, the online retailer was vindicated by both poor reads for traditional retailers and a report by the U.S. Census Bureau, which highlighted Amazon’s favorable market position.
Amazon reported deceleration in U.S. commerce revenue growth across consecutive quarters, but, relative to competitors, the company is quickly and greedily gaining ground.
“Most large brick-and-mortar retailers have not reported yet, but all indications are for an especially weak Q4,” MKM Managing Director Rob Sanderson wrote in a Thursday note. “Some retail analysts are calling the season ‘a disaster’ and the worst nonrecession Holiday in memory.”