FYI: Trade wars, inverted yield curves and a slowdown in Europe may be fueling recession worries in the U.S., but those concerns haven’t manifested in the retail numbers. Recent government figures showed U.S. retail sales rose by more than expected in July, while several high-profile retail companies announced better-than-expected results for the latest quarter.
According to the Census Bureau, retail sales grew by 3.4% year over year in July and 3.1% for the year as a whole. Meanwhile, shares of retail giants like Walmart, Target, Home Depot and Lowe’s are trading near record highs after releasing strong earnings reports.
Some retailers are certainly struggling, especially department stores, but the tone surrounding the sector is noticeably more upbeat than you would expect with so many issues swirling about.
Regards,
Ted
https://www.etf.com/sections/features-and-news/retail-etfs-doing-better-expected?nopaging=1
