Santa Splurged on Uggs, Abercrombie and Not Much Else
Among brands catering to the upper middle class, there were a few clear winners during a holiday season that looks disappointing overall, according to a Bloomberg analysis.
Sales at Apple’s US retail division declined in November and December, according to data from Bloomberg Second Measure.
Photographer: David Paul Morris/BloombergAmericans gorged on Ugg boots and Abercrombie & Fitch sweaters for Christmas gifts and not much else.
Those brands were outliers among a group of 30 retailers1catering to upper-middle-class households that Bloomberg has been following. This cohort had its weakest holiday season in at least six years, according to sales observed by Bloomberg Second Measure2, which has tracked a subset of US credit and debit card transactions since 2017. Its median sales performance3was a year-over-year decline of 10% from October through December.