Retailers saw the best holiday sales growth in three years, The Wall Street Journal reports.
Sales surged throughout December as the Christmas countdown motivated more consumers to break out their wallets. The holiday sales report is one of a number of indicators raising hopes for a strong economic recovery under the tree.
A strong holiday would be welcome news to Wal-Mart Stores Inc., Target Corp. and other retailers battling declining shopper traffic and stiff competition from Web rivals from Amazon.com and the like. And all retailers will deal Friday with another holiday shopping tradition: returns.
About 23 percent of all returns take place during the holiday season, The Washington Post reports, quoting Optoro CEO Tobin Moore. He estimates that’s nearly $60 billion worth of goods. Lanham-based Optoro closed on a $50 million Series C financing round Dec. 10.
