Poll: Teens to Spend More on Holiday Gifts This Year
Colorado Springs, Colo. About one-third (32.3%) of polled teens said they will spend more for holiday gifts this year than they did in 2006, according to the seventh annual “Teens and Holiday Spending” survey conducted by Colorado Springs, Colo.-based Junior Achievement, a non-profit organization that teaches students about the importance of economics and free market.
The survey found that 22.8% of teens plan to spend more than $200 on holiday shopping, up 7% from 2006. Teens were also asked how they determine how much to spend on holiday gifts and 54.2% said they would create a budget based on what they could afford.
For teens who indicated they would purchase gifts that surpass their budget, the most frequently cited reason was “If I knew they really wanted that gift”, which was mentioned by 81.4% of the potential budget-busters. Boys were nearly twice as likely as girls to select “to impress the recipient” as their primary motivation for over-spending.
Of those teens who felt pressured to exceed their holiday budgets, reciprocity of gift giving was the primary reason. “If somebody buys me an expensive gift, I feel pressured to spend a lot of money on their gift” was cited by 55%, while 28.6% indicated that the costliness of gifts contributed to their overspending.
Kohl’s offers charitable gift options
MENOMONEE FALLS, Wis. Kohl’s reported today that is offering customers a chance to give back to the community with special $5 gifts.
Through its Cares for Kids program Kohl’s is selling hardcover children’s books for $5 a piece, with the profits going toward children’s health and education efforts across the country.
“Great gifts don’t have to cost a lot of money,” said Julie Gardner, evp and chief marketing officer of Kohl’s Department Stores. “Through Kohl’s Cares for Kids, great quality gifts are inexpensive and customers can feel good knowing that when they buy for one child, they benefit another.”
DSW reports 3Q sales, earnings growth
COLUMBUS, Ohio DSW today reported that its net income for the third quarter was $22.4 million and net sales for the quarter were $367.4 million. This compares to net income of $16 million and net sales of $332.2 million for the same period last year. The company reported same-store sales decreased 3% for the quarter versus an increase of 2.6% last year.
The company reported that diluted earnings per share were 51 cents for the third quarter of 2007 compared with 36 cents for the same period last year.
DSW said that it now estimated that fiscal 2007 diluted earnings per share will be in the range of $1.24 to $1.29, updated from the company’s previously announced estimate of at least 10% below last year’s reported diluted earnings per share of $1.48. The company also said it now expects comparable-store sales to be in the range of flat to down 1% for fiscal 2007, updated from the company’s previously announced estimate of flat to down 2%.