American Express Co., the biggest credit-card issuer by purchases, reported Dec. 1 was the best day for card spending by customers in the companys history.
We were pleased with our billings performance overall, Chief Executive Officer Kenneth I. Chenault said Wednesday at a conference in New York, without providing specifics. Were hopeful that well see reasonable growth against last year.
Cyber Monday spending on the Web rose 17% in the U.S. to a record $2.04 billion from a year earlier, according to researcher ComScore Inc. The Monday after Thanksgiving was the busiest Internet shopping day so far this year, topping Black Fridays $1.51 billion in desktop Web sales, the data show.
Consumers are spreading out their holiday shopping, no longer concentrating it on Black Friday as in prior years, Chenault said at the conference. Sales increased 7 percent from Nov. 1 through Thanksgiving, then slowed to a 5% to 6% growth rate from Black Friday through Dec. 2, U.S. Bancorp Chief Financial Officer Andy Cecere said Wednesday at the New York conference sponsored by Goldman Sachs Group Inc.