AmEx Sees Holiday Spending Soaring as Omicron Fails to Bite
Shoppers load a television into a vehicle at a Best Buy store on Black Friday in San Carlos, California, on Nov. 26, 2021.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
American Express Co. said the omicron variant has yet to put a damper on holiday shopping.
Consumer retail spending on the firm’s cards so far this quarter -- AmEx’s best proxy for holiday results -- has soared 30% compared to pre-pandemic levels, Chief Financial Officer Jeff Campbell told investors at a conference Tuesday.