Retail CEOs relieved election is over

Barnes & Noble Chief Executive Officer Len Riggio is happy with the U.S. presidential election - happy it's over.

Riggio complained along with other retailers that the volatile campaign was a massive distraction that kept Americans from shopping. Barnes & Noble, the world's biggest bookstore chain, said it saw the biggest impact on weeknights, when the three major cable TV networks provided a steady diet of talking heads weighing the strengths and weaknesses of Donald Trump and Hillary Clinton.

Retail executives are notorious for coming up with excuses for weak sales, from the weather to a fluctuating holiday calendar, and analysts were skeptical of their claims. But in the months leading up to Election Day, Riggio was joined by a chorus of fellow CEOs that included Gap's Art Peck, Signet Jewelers' Mark Light, Yum Brands' Greg Creed and Todd Penegor from Wendy's.

On Thursday, Kohl's CEO Kevin Mansell joined the fray, saying on an earnings call that the election had been a distraction and that the 'certainty” of the outcome would be good for the all-important holiday season.

Target held off on running its holiday ads on network television during the campaign. Instead, the retailer moved them to lifestyle channels like HGTV and the Food Network.

As the election fades, the question of what a Trump presidency might mean for retailers, brands and restaurants remains. The president-elect campaigned on limiting international trade, including by slapping tariffs on goods from China and Mexico. That could increase costs for retailers because they mostly sell foreign-made products, according to Bloomberg Intelligence.

'We have to wait and see how these policies unfold,” Macy's CEO Terry Lundgren said in an interview. 'There's a lot of things that are said in the election process, and then you actually get into office.”

On the campaign trail, Trump also talked about cutting regulations and corporate taxes, platforms more likely to pass after Republicans maintained control of both chambers of Congress.

'These could be very positive for business and our consumer, and ultimately very positive for Macy's,” Lundgren said.