It’s Cyber Monday, the last big deal day of the Thanksgiving weekend sales event, and the industry is already tallying up its winnings. Adobe Analytics released Black Friday sales data on Saturday, and it’s set to release Cyber Monday numbers tomorrow. In the meantime, some shoppers are prepping for “Travel Tuesday,” another link in the chain of Thanksgiving-adjacent promotions where consumers hunt for deals on trips.
Here’s what else is going on in retail this week:
In closings: The Prada Group is closing its $1.4 billion acquisition of Versace on Tuesday after announcing the deal in April. The luxury brand is currently in acquisition mode, and is weighing additional purchases, including Giorgio Armani. Prada CEO Andrea Guerra said the deal isn’t expected to drive results in the short term, but is rather a long-term play.
In webinars: Morgan Stanley is hosting its Global Consumer & Retail Conference on Tuesday, and a slew of industry leaders will be speaking. The lineup includes Procter & Gamble CFO Andre Schulten, Phillip Morris CEO Jacek Olczak, Walmart CFO John David Rainey, and US Foods Holding Corp. CEO Dave Flitman and CFO Dirk Locascio.
In promotions: On Saturday, GameStop is holding a special promotion called “Trade Anything Day,” where the store will accept “almost anything in trade” for credit. The only parameters are that each customer can only trade in one item, and the item must fit in a 20-inch-by-20-inch-by-20-inch Trade Anything box. The company said it’s “looking forward to seeing the whackiest items you can bring.” Though, some employees are anticipating having to reject certain items because they are a “biological hazard.”
In data releases: After a delay related to the government shutdown, the US Bureau of Labor Statistics is releasing its import and export price data for September on Wednesday. The last release for August showed export prices increasing 0.3% month over month and 3.4% YoY, and import prices increasing 0.3% month over month and staying flat YoY.