DENVER, Colo., December 3, 2019- (24/7MarketNews via COMTEX) National and Venture Market News for December 3, 2019.
Adobe Analytics’ preliminary projections suggest that Cyber Monday sales hit $9.2, a 16.9% year-over-year increase, with traditional retailers, like Walmart (NYSE:WMT) and Target (NYSE:TGT), trying to carve into Amazon (NASDAQ:AMZN) and eBay’s (NASDAQ:EBAY) space, yet the solid follow-through on top of Black Friday and Small Business Saturday seems to be drown out by tough trade talk.
Today’s market futures are way down, on the heels of President Trump declaring that a new trade deal with China may not happen until after the November 2020 presidential election.
In any case, the trade worries may be a case of temporarily taking one’s eye off the ball, as the National Retail Federation forecast that overall holiday sales would grow by approximately 4.2%, over last year, and, according to Fiserv’s annual holiday spending report, brick and mortar sales hit that growth rate, which should impact Walmart (NYSE:WMT), Target (NYSE:TGT), and others.
With the holiday shopping season, from Black Friday through Christmas, accounting for nearly a third of all the annual retail sales, making it, not only the most profitable season of the year, for most businesses, but the season’s results will influence many retailers’ plans for 2020. For this season, many retailers increased their TV advertising by more than 5%, over last year. According to Media Radar, retailers spent over $400 million on TV advertising for the first half of November.
Kraig Labs’ scale-up of its first-of-its-kind superfiber production program on target
Kraig Biocraft Laboratories (OTCQB: KBLB), the leading developer of spider silk based fibers, announced today that it completed the completed hatching the second generation of silkworms and that this rapid expansion of recombinant Spider Silk places Kraig Labs on track to grow operations and yield fibers for its first significant fabric production run. Additionally, the resulting cocoons from this production cycle will be used to fulfill the first commercial shipments from its new Vietnamese factory.
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