In October, the retail sales rose by 0.4% compared to 0.3% expected by economists. On the other hand, September saw an increase of 0.8% after the revision.

The surge in retail sales for the past month is partly attributed to rising prices, but economists agree that the main reason is simple: increased spending. Electronics and appliances stores and auto dealers have been the main drivers of the jump, rising 2.3% and 1.6%.

Some sectors, on the other hand, saw a moderate decline, including furniture stores, clothing stores, and pharmacies.

“The solid rise in retail sales in October comes on the heels of a sharply revised higher spending splurge in September, which indicates that consumers maintained upbeat spending momentum at the start of Q4,” Kathy Bostjancic, Chief Economist at retail banking company Nationwide, said. “This supports our forecast that GDP growth expands a solid 2% this quarter, albeit a moderation from the 2.8% growth in Q3.”

The increased spending isn’t expected to spill over to next month and result in a robust holiday shopping season. Americans still remain vary of inflated prices and will likely be cautious with their holiday spending.

The post Retail Sales Jump More Than Expected as Consumer Spending Remains Resilient appeared first on theprimarymarket.com.

The largest increase since January, retail sales were largely driven by motor vehicle sales and spare parts, which rose by 3.6%. Electronics and appliance store sales were up by 1.6%. Healthcare and personal care stores saw an uptick in sales of 0.8% monthly and 3.4% year-over-year. Food and beverage sales were up 0.9% month-over-month and 2.9% on an annual basis.

Best Buy emerged as one of the standout stocks for the month, given its broad selection of consumer electronics, food, entertainment software, and home office products. Kimberly-Clark was a standout healthcare product provider, with its products being distributed to drugstores, grocery stores, wholesalers, and healthcare establishments. Shifting focus to foods and beverages, Pilgrim’s Pride was a standout performer with its range of prepared foods.

The post U.S. Retail Sales Rise in July appeared first on theprimarymarket.com.

Retail sales bounced back from April, which featured a 0.2% decline, while also increasing 2.3% on a year-over-year basis. However, with cars and gas excluded, the retail sales actually decreased by 0.1% in May compared to an estimated 0.4% jump.

The gas contributed to the overall weaker increase as sales at gasoline pumps declined by 2.2% compared to April. Furniture sales were 1.1% down, while specialty store sales increased by 2.8%.

The most recent slowdown in retail sales is showing that consumers are continuing to feel the pressure of inflation and high interest rates that have caused rising prices.  

“Consumer spending is slowing because real incomes growth is moderating and because some consumers are becoming credit constrained amid elevated interest rates and rising credit card utilization,” Michael Pearce, deputy Chief US economist at Oxford Economics, told clients in a note shared by Yahoo Finance.

Some relief might be coming later this year as promising inflation data could lead to cuts in interest rates. The Federal Reserve announced last week that it plans one rate cut in 2024 although economy experts say that two cuts are real possibility.

The post Retail Sales in the U.S. See Weaker Increase Than Expected appeared first on theprimarymarket.com.

Despite the Federal Reserve’s continued tight fiscal policy in the face of stubborn inflation, consumer spending has remained high. The September report released by the Commerce Department showed that spending remained largely unaffected by a tightening credit environment and gas prices hitting 2023 highs as well as a revival in student loan repayments.

“While mounting headwinds to consumer incomes mean we expect spending growth to slow in the months ahead, the risks that spending contracts outright are fading,” Oxford Economics lead U.S. economist Michael Pearce observed of the current economic climate.

The post Retail Sales Beat Forecasts Amid Consumer Resilience appeared first on theprimarymarket.com.

While Target’s earnings fell short of company expectations, big box rival Walmart reported a strong quarterly performance, growing both in-store and online sales and lifting its full-year guidance as a result.

“Historically, our value proposition has been known for everyday low prices and for providing that value for customers,” Walmart CFO John David Rainey explained. “And what we see right now is that convenience resonates just as much to our customer base. And if you’re a household that makes over $100,000 a year, you value convenience just as much as the next person.”

The post Mixed Signals Delivered From Retail Sector Following Earnings Week appeared first on theprimarymarket.com.

“The US inflation picture is moderating some,” Moeller explained following the company’s earnings report released on Friday morning. He did, however, caution that European resolute inflation could limit the retail giant’s earnings.

Net sales for the second quarter were $20.6 billion, beating the Wall Street consensus estimate of $20.06 billion. Organic sales growth for the period was 8%, outpacing the 5.97% forecast.

Gross profit margins for the quarter were 48.4%, exceeding the 44.6% posted a year ago.

Following the release of its latest earnings figures, P&G released its full-year profit outlook in the range of $6.25 to $6.43 per share. Wall Street estimates stand at $6.38 per share.

The post P&G CEO Expects Cooling Inflation to Push Profits Further Following Strong Q2 Results appeared first on theprimarymarket.com.

A representative of Anheuser-Busch explained in a statement that the company will be restructured in a way to “simplify and reduce layers within its organization.” The layoffs will occur on the corporate side of the business, not affecting the jobs of “brewery and warehouse staff, drivers, and field sales, among others.”

The spokesperson explained that the layoffs would affect less than 2% of the company’s staff, adding that Anheuser-Busch employs over 19,000 employees across the United States. The 2% figure would account for around 380 positions.

CEO Brendan Whitworth claimed that the layoffs are a necessary step to maintain the health of the company, insisting that Anheuser-Busch remains poised for long-term success.

The post Bud Light Maker to Layoff Workers After Beer Loses Market Top Spot appeared first on theprimarymarket.com.

Net sales for the quarter were $22.3 billion, a 10.4% year-over-year rise. Wall Street estimates stood at $21.68 billion. Organic sales grew +13% year over year, outpacing estimates of 9.75%, while core earnings per share hit $2.09, compared to estimates for $1.96.

Our strong performance and the progress we are making on our strategic priorities gives us confidence that investments we are making to become an even faster and stronger and even better organization by winning with Pepsico Plus are working,” PepsiCo CEO Ramon Laguarta remarked.

As PepsiCo has done historically, the company hiked its full-year outlook at a time when sales figures were on the rise. This suggests that the company is highly confident that rising sales will continue to be realized.

The post PepsiCo Boosts Profit Forecast Amid Rising Q2 Sales appeared first on theprimarymarket.com.

“LG Electronics will transform its business portfolio… increase profits by growing in business-to-business, and transition to a service business,” CEO William Cho stated in a press conference.

In order to achieve its sales goal, LG will look to expand its vehicle components business by more than doubling its revenue to 20 trillion won by 2030. The company is also determined to strengthen its home appliance and TV service platforms by adding more media subscriptions and rentals.

Other growth routes that the company is considering are joint ventures, mergers, and acquisitions.

This announcement comes after LG announced last Friday that it expects a second-quarter operating profit 892.7 billion won; up 12.7% from the previous year. This would be the second-highest Q2 profit that the company has ever recorded.

The post LG Sets $77 Billion Sales Target for 2030 appeared first on theprimarymarket.com.

H&M shares rose by 6% as analysts forecasted a rise in sales for the Swedish fashion house over the third quarter. This comes after sales remained flat for the months of March through May.

Bank of America stated that H&M’s sold-out collaboration with luxury brand Mugler is expected to boost the company’s half-year earnings, which are set to be announced on June 29.

Online fashion retailer ASOS has returned to profitability following its decision to cut its inventory by 15% since the start of the year. With consumers returning to physical stores following the pandemic, ASOS decided to remove unfavorable products from its website.

“Our experience in the current trading environment is that when we create a product that really resonates with our customers and is priced correctly, full-price sales are very strong,” ASOS claimed.

The post Fashion Retailers Remain Resilient Despite Demand Slump appeared first on theprimarymarket.com.

In October, the retail sales rose by 0.4% compared to 0.3% expected by economists. On the other hand, September saw an increase of 0.8% after the revision.

The surge in retail sales for the past month is partly attributed to rising prices, but economists agree that the main reason is simple: increased spending. Electronics and appliances stores and auto dealers have been the main drivers of the jump, rising 2.3% and 1.6%.

Some sectors, on the other hand, saw a moderate decline, including furniture stores, clothing stores, and pharmacies.

“The solid rise in retail sales in October comes on the heels of a sharply revised higher spending splurge in September, which indicates that consumers maintained upbeat spending momentum at the start of Q4,” Kathy Bostjancic, Chief Economist at retail banking company Nationwide, said. “This supports our forecast that GDP growth expands a solid 2% this quarter, albeit a moderation from the 2.8% growth in Q3.”

The increased spending isn’t expected to spill over to next month and result in a robust holiday shopping season. Americans still remain vary of inflated prices and will likely be cautious with their holiday spending.

The post Retail Sales Jump More Than Expected as Consumer Spending Remains Resilient appeared first on theprimarymarket.com.

The largest increase since January, retail sales were largely driven by motor vehicle sales and spare parts, which rose by 3.6%. Electronics and appliance store sales were up by 1.6%. Healthcare and personal care stores saw an uptick in sales of 0.8% monthly and 3.4% year-over-year. Food and beverage sales were up 0.9% month-over-month and 2.9% on an annual basis.

Best Buy emerged as one of the standout stocks for the month, given its broad selection of consumer electronics, food, entertainment software, and home office products. Kimberly-Clark was a standout healthcare product provider, with its products being distributed to drugstores, grocery stores, wholesalers, and healthcare establishments. Shifting focus to foods and beverages, Pilgrim’s Pride was a standout performer with its range of prepared foods.

The post U.S. Retail Sales Rise in July appeared first on theprimarymarket.com.

Retail sales bounced back from April, which featured a 0.2% decline, while also increasing 2.3% on a year-over-year basis. However, with cars and gas excluded, the retail sales actually decreased by 0.1% in May compared to an estimated 0.4% jump.

The gas contributed to the overall weaker increase as sales at gasoline pumps declined by 2.2% compared to April. Furniture sales were 1.1% down, while specialty store sales increased by 2.8%.

The most recent slowdown in retail sales is showing that consumers are continuing to feel the pressure of inflation and high interest rates that have caused rising prices.  

“Consumer spending is slowing because real incomes growth is moderating and because some consumers are becoming credit constrained amid elevated interest rates and rising credit card utilization,” Michael Pearce, deputy Chief US economist at Oxford Economics, told clients in a note shared by Yahoo Finance.

Some relief might be coming later this year as promising inflation data could lead to cuts in interest rates. The Federal Reserve announced last week that it plans one rate cut in 2024 although economy experts say that two cuts are real possibility.

The post Retail Sales in the U.S. See Weaker Increase Than Expected appeared first on theprimarymarket.com.

Despite the Federal Reserve’s continued tight fiscal policy in the face of stubborn inflation, consumer spending has remained high. The September report released by the Commerce Department showed that spending remained largely unaffected by a tightening credit environment and gas prices hitting 2023 highs as well as a revival in student loan repayments.

“While mounting headwinds to consumer incomes mean we expect spending growth to slow in the months ahead, the risks that spending contracts outright are fading,” Oxford Economics lead U.S. economist Michael Pearce observed of the current economic climate.

The post Retail Sales Beat Forecasts Amid Consumer Resilience appeared first on theprimarymarket.com.

While Target’s earnings fell short of company expectations, big box rival Walmart reported a strong quarterly performance, growing both in-store and online sales and lifting its full-year guidance as a result.

“Historically, our value proposition has been known for everyday low prices and for providing that value for customers,” Walmart CFO John David Rainey explained. “And what we see right now is that convenience resonates just as much to our customer base. And if you’re a household that makes over $100,000 a year, you value convenience just as much as the next person.”

The post Mixed Signals Delivered From Retail Sector Following Earnings Week appeared first on theprimarymarket.com.

“The US inflation picture is moderating some,” Moeller explained following the company’s earnings report released on Friday morning. He did, however, caution that European resolute inflation could limit the retail giant’s earnings.

Net sales for the second quarter were $20.6 billion, beating the Wall Street consensus estimate of $20.06 billion. Organic sales growth for the period was 8%, outpacing the 5.97% forecast.

Gross profit margins for the quarter were 48.4%, exceeding the 44.6% posted a year ago.

Following the release of its latest earnings figures, P&G released its full-year profit outlook in the range of $6.25 to $6.43 per share. Wall Street estimates stand at $6.38 per share.

The post P&G CEO Expects Cooling Inflation to Push Profits Further Following Strong Q2 Results appeared first on theprimarymarket.com.

A representative of Anheuser-Busch explained in a statement that the company will be restructured in a way to “simplify and reduce layers within its organization.” The layoffs will occur on the corporate side of the business, not affecting the jobs of “brewery and warehouse staff, drivers, and field sales, among others.”

The spokesperson explained that the layoffs would affect less than 2% of the company’s staff, adding that Anheuser-Busch employs over 19,000 employees across the United States. The 2% figure would account for around 380 positions.

CEO Brendan Whitworth claimed that the layoffs are a necessary step to maintain the health of the company, insisting that Anheuser-Busch remains poised for long-term success.

The post Bud Light Maker to Layoff Workers After Beer Loses Market Top Spot appeared first on theprimarymarket.com.

Net sales for the quarter were $22.3 billion, a 10.4% year-over-year rise. Wall Street estimates stood at $21.68 billion. Organic sales grew +13% year over year, outpacing estimates of 9.75%, while core earnings per share hit $2.09, compared to estimates for $1.96.

Our strong performance and the progress we are making on our strategic priorities gives us confidence that investments we are making to become an even faster and stronger and even better organization by winning with Pepsico Plus are working,” PepsiCo CEO Ramon Laguarta remarked.

As PepsiCo has done historically, the company hiked its full-year outlook at a time when sales figures were on the rise. This suggests that the company is highly confident that rising sales will continue to be realized.

The post PepsiCo Boosts Profit Forecast Amid Rising Q2 Sales appeared first on theprimarymarket.com.

“LG Electronics will transform its business portfolio… increase profits by growing in business-to-business, and transition to a service business,” CEO William Cho stated in a press conference.

In order to achieve its sales goal, LG will look to expand its vehicle components business by more than doubling its revenue to 20 trillion won by 2030. The company is also determined to strengthen its home appliance and TV service platforms by adding more media subscriptions and rentals.

Other growth routes that the company is considering are joint ventures, mergers, and acquisitions.

This announcement comes after LG announced last Friday that it expects a second-quarter operating profit 892.7 billion won; up 12.7% from the previous year. This would be the second-highest Q2 profit that the company has ever recorded.

The post LG Sets $77 Billion Sales Target for 2030 appeared first on theprimarymarket.com.

H&M shares rose by 6% as analysts forecasted a rise in sales for the Swedish fashion house over the third quarter. This comes after sales remained flat for the months of March through May.

Bank of America stated that H&M’s sold-out collaboration with luxury brand Mugler is expected to boost the company’s half-year earnings, which are set to be announced on June 29.

Online fashion retailer ASOS has returned to profitability following its decision to cut its inventory by 15% since the start of the year. With consumers returning to physical stores following the pandemic, ASOS decided to remove unfavorable products from its website.

“Our experience in the current trading environment is that when we create a product that really resonates with our customers and is priced correctly, full-price sales are very strong,” ASOS claimed.

The post Fashion Retailers Remain Resilient Despite Demand Slump appeared first on theprimarymarket.com.