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Year-over-year Aggregate Data Shows Rebound from Recession Lows and Even Some Growth

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Martha Shaughnessy
Atomic PR for Mint

Year-over-year Aggregate Data Shows Rebound from Recession Lows and Even Some Growth

Mountain View, Calif., Nov 24, 2009 – Mint.com from Quicken (www.mint.com), a leading online personal finance service from Intuit Inc. (Nasdaq: INTU), today published analysis of year-over-year aggregate data analyzing some of the country’s leading retailers to see where spending stands today vs. this time last year.

Mint.com can pull representative transactional data from more than 13,000 national retailers. The selected bellwethers for this holiday season are top performers in the third quarter this year, based on average monthly spend per user versus recession lows, and include:

  • Aeropostale – the clothing retailer is up 10% year-over-year, having grown consistently quarter over quarter
  • Best Buy – the electronics retailer is up 1% Q3 year-over-year, hit a recession low of -7%
  • Fry’s – while competitor Best Buy’s sales exceed where they were at this point last year, Fry’s remains down -7% year-over-year (though it’s up from a -16% recession low)
  • J.Crew – the clothing retailer’s lowest point was -3%, but it has since entirely corrected and even improved sales 4% year-over-year
  • Sears – the department store’s sales are up 8% over this time last year, having dipped to -10%
  • Target – after an initial drop to -8% in Q109, Target has halved that loss and is currently down only -4% year-over-year

“Mint.com’s value as an economic index grows along with our user base,” said Aaron Patzer, vice president and general manager of Intuit’s Personal Finance Group. “Despite woeful predictions, data seems to indicate an upswing in spending among our users. We’ll be able to check back in on these and other retailers after Black Friday and Cyber Monday sales have cleared users’ accounts to get a true read on how people are spending this holiday season.”

Mint.com will pull equivalent data the first week of December to show who ‘wins’ the kick-off of holiday season shopping, and help gauge the success of various promotions. Sales numbers can be pulled by merchant and by city, state or region. To be sure you receive it, please email: shelby@atomicpr.com.

About Mint.com (www.mint.com)

Mint.com from Quicken is a leading online personal finance service from Intuit Inc. (Nasdaq: INTU), providing over 1.7 million users a fresh, easy and intelligent way to manage their money. And it’s free. Launched in September 2007, Mint.com has quickly grown to track nearly $200 billion in transactions and $50 billion in assets and has identified more than $300 million in potential savings for its users. Mint.com’s innovation is in applying advanced technology to deliver breakthrough ease-of-use. Using patent-pending technology and proprietary algorithms, Mint.com allows users to see all their financial accounts in one place, makes it easy to set and keep to budgets, and helps identify money saving ideas. Mint.com is so effective that more than 90 percent of users say they have changed their financial habits as a result of using the service. For more information on Mint.com’s free online personal finance service, please visit http://www.mint.com and follow Mint.com on Twitter: www.twitter.com/mint.

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit’s leading tax preparation offerings for professional accountants. The company’s financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.

Founded in 1983, Intuit had annual revenue of $3.2 billion in its fiscal year 2009. The company has approximately 7,800 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

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Written by Mint

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