Black Friday sales hit record $9.1B in online holiday season

A record $9.1 B was spent online for Black Friday, a 2% increase from year-ago sales. According to data from Adobe Analytics, electronics were one of the biggest factors contributing to the rise, with sales up 221% from a typical day in October. Smart home sales rose 271% and audio equipment 230%. Toy sales went up 285% and exercise equipment went up 218%. Cyber Monday was the shopping holiday's 17th run since it began in 2005, marking the shopping holiday's 17th run. Over $11.6 billion in total sales is forecast by Adobe Analytics, which has already called for a new record for the event.

The Bank of America made note of the 2 -- 3% annual growth rate, which came in ahead of the firm's 1% growth forecast for Black Friday. The analysts said that with Black Friday results exceeding estimates, they now see potential for the online holiday season falling from November through December to improve from October levels. BofA said this year appears to have resulted from larger discounts than last, namely in footwear, apparel, and luggage. The note stated that although elevated inventory levels could indicate gross margin pressure for retailers this holiday season, we believe 3 P eCommerce retailers i.e. Amazon should be more insulated. Keybanc said that promotions were higher on a year-over-year basis, as anticipated. The analysts said their checks showed solid traffic, but not strong, although Nordstrom JWN and Lululemon LULU were two retailers with strong traffic trends and longer checkout lines during the highly-watched shopping weekend.

While it is impossible to ignore some of the steep year-to-date losses that many retailers have suffered, November has been kinder to several of these names. Through Monday s close, Etsy ETSY is one of the S&P 500 s best monthly performers, 27% month-to-date. Under Armor UAA has risen 26%, Ross Stores ROST 21.6%, PVH Corp. PVH 21.5%, and Bath Body Works BBWI and Best Buy BBY both have 20% month-to-date gains. Even Target TGT, which saw one of the most sizable post-earnings sell-offs this quarter, is up 0.7% now for the month. Amazon AMZN, one of the most closely watched for consumer health, remains down over 8%.

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