Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
Online retail spending for the week ending Nov. 2 grew 39%, reports comScore Media Metrix, reaching $1.168 billion from $843 million for the corresponding week a year ago.
The up-and-down growth rate of online retail spending stayed up for the third straight week when spending for the week ending Nov. 2 grew 39%. Online sales reached $1.168 billion from $843 million for the corresponding week a year ago, reports comScore Media Metrix.
Year-over-year growth the prior week was 41% and 59% the week before that. But those were preceded by weeks of 16%, 8% and 15% growth.
Total retail sales for the week ending Nov. 1 declined 4.6% from the corresponding week a year ago, breaking a 26-week run of year-over-year increases, reports ShopperTrak’s National Retail Sales Estimate. The last time total retail sales experienced a year-over-year decline was the week ending April 26, ShopperTrak reported. “Given the improving economy, it looks as though October’s weakness will be temporary,” says ShopperTrak’s Michael Niemira, lead consultant.
Online travel sales for the week ending Nov. 2 were up 67% from a year ago, comScore reports, reaching $910 million from $546 million.