Election didn’t change our shopping habits

The presidential election results may have changed a great many things: Your dinner table conversations, for example, and the kinds of posts in your Facebook feed. But executives at major retailers say they're betting that the political climate will do little to alter your shopping habits this holiday season.

'We haven't really seen any noticeable change in sentiment in our customers,” said Greg Foran, Wal-Mart's U.S. chief executive, on a Thursday conference call when asked whether the election would have an effect on the business.

Foran's comments echo what Brian Cornell, the chief executive of Target, said Wednesday when asked a similar question.

'We remain very optimistic about the holiday season,” Cornell said, referring to economic factors such as a low unemployment rate.

Both retailers reported relatively upbeat earnings results this week, adding to evidence that the retail industry is headed into the holiday shopping season with a tail wind.

In its U.S. division, Wal-Mart saw a 1.2 percent increase in comparable sales, a measure of sales online and at stores open more than a year. The uptick came as the retailer did a better job of keeping store shelves well-stocked, and as its online sales heated up.

This time around, e-commerce accounted for a greater share of the growth on this metric than in any previous quarter.

Target reported improvement on some key measures: Foot traffic to its stores grew in the most recent quarter, and strong sales during the busy back-to-school shopping season helped narrow its decline in comparable sales.

The retailer said it also has benefited from a recent change to its marketing tactics, in which it has moved to put a bigger spotlight on value and low prices.

Macy's and Kohl's also reported stronger-than-expected earnings results last week. And the Commerce Department said Tuesday that retail sales were up 0.8 percent in October, a robust showing that suggests consumers are feeling relatively confident.