Seeking Alpha

Retail sales solid for July, but Wal-Mart still to weigh in

Retail sales beat expectations in July after backing out auto sales to show the strongest gain of the year.

Restaurants (CAKE, CBRL, CMG, DNKN, DPZ, DRI, EAT, JACK, MCD, PNRA, RRGB, RT, SBUX, SONC, WEN, BWLD, THI, BDL, NATH, CEC, LUB, BKW, CHUY, BLMN, PZZA, TXRH, DENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN) showed some strength during the month, rising 0.6% after an alarming 0.5% drop in June.

Despite the largely positive reading on retail sales, the dominant event for retail this week will come from Bentonville, Arkansas when Wal-Mart (WMT -0.6%) reports Q2 earnings and offers up some hints about Q3.

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Comments (1)
  • Michael Bryant
    , contributor
    Comments (6061) | Send Message
    See. We are recovering. People are spending again, which is a good thing. Consumer spending is 70% of the economy.
    13 Aug 2013, 11:00 PM Reply Like
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