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Retail sales fail to gain traction in August

Sep. 15, 2016 9:02 AM ETWalmart Inc. (WMT) StockWMT, COST, TGT, XLP, XLY, RTH, VCR, IYC, IYK, IBUY, DG, VDC, HD, PBJ, PEJ, BBY, CVS, KR, LOW, PMR, SWY, SPLS, XRT, RSPD, RSPS, SZK, SCC, UGE, UCC, PEZ, PSL, FXD, FXG, PSCD, PSCC, RETL, FDIS, FSTA, WBA, JHMC, BITE-OLD, JHMS, CNSF, CNDFBy: Clark Schultz, SA News Editor6 Comments
  • Retail sales fell in August on a month-over-month comparison. The drop wasn't a large surprise considering the onslaught of warnings from the retail sector on store traffic.
  • 8 out of the 13 retail categories showed negative growth during the month, with the largest drops recorded in the building material/garden equipment/supplies dealers and miscellaneous store retailers categories. The broad weakness turned on its head the argument that money freed up from a lower level of auto sales would be funneled into other consumer purchases.
  • Food services and drinking places showed a +0.9% M/M and +5.8% Y/Y increase in a somewhat surprising result considering the harsh read from Black Box Intelligence on August same-store sales in the restaurant sector BITE. Is the discrepancy an indication that independent restaurants are taking market share?
  • On a year-over-year basis, retail sales were up 1.9%. As expected the Amazon-influenced nonstore retailers category did the heavy lifting with an 11% gain. Larger U.S. retail chains (WMT, SPLS, TGT, BBY, DG, COST, KR, WBA, CVS, LOW, HD, SWY) have been raising the issue of pricing pressure in recent conference presentations and guidance updates which could be a nagging sales deflator for the balance of the year.
  • Previously: Retail sales disappoint in August (Sept. 15)
  • Retail ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, PBJ, IYK, FXD, IYC, RHS, FDIS, PEJ, FSTA, PSL, SCC, RCD, UCC, PEZ, PMR, PSCC, UGE, PSCD, SZK, BITE, CNDF, CNSF, IBUY, JHMC, JHMS.

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