RETAIL RECAP
The Commerce Department issues its July retail sales report on Tuesday morning.
In June, Americans increased their spending as inflation eased in many areas. Retail sales rose 0.2% from May to June, following a revised 0.5% increase the previous month. Shoppers increased spending at electronic stores and furniture and home furnishings stores after a recent pullback. Online sales also had a solid increase. Spending has been volatile this year after surging nearly 3% in January. Analysts forecast that spending rose 0.4% from June to July.
Retail sales, monthly percent change, seasonally adjusted:
Feb.: -0.7
March -0.9
April 0.4
May: 0.5
June: 0.2
July (est.): 0.4
Source: FactSet
TJX COS.
TJX reports its second-quarter earnings before markets open Wednesday.
Analysts forecast that the Massachusetts company earned 76 cents per share in the period on $12.4 billion in sales. In the same period a year ago, the operator of T.J. Maxx and Marshalls department stores beat analyst targets by posting 69 cents-per-share profit, even as its sales fell short of projections. Shares in TJX are up about 8% this year.
WALMART
Walmart reports its second-quarter financial results before the bell on Thursday.
Wall Street expects the nation's largest retailer to post earnings of $1.69 per share on sales of $159.8 billion. In the first quarter of 2023, Arkansas-based Walmart reported strong sales as its low prices continued to draw budget-conscious consumers dealing with stubbornly high inflation, particularly in groceries. That strong first-quarter performance led the company to raise its full-year sales and profit projections. Walmart shares are up more than 13% this year.
Sourse: abcnews.go.com
