Retail Sales Dip in July Follows Amazon's Prime Day Delay

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Retail Sales Dip in July Follows Amazon's Prime Day Delay
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  1. Results from Home Depot and Lowes could provide more insight into the housing market and whether people are spending more or less on home improvements. Results and forecasts from retail giants Target and Walmart could provide more insight into how households are budgeting and spending.

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    NPR Economy

    So after these 5 things, what's next? Next week, we'll get an even more detailed look at consumer spending, thanks to a bunch of earnings reports from bellwether retailers, including Walmart, Target, Home Depot and Lowe's.

    CNBC

    Investors aren't exactly expecting a blowout quarter, given these housing dynamics and the fact that the stock is well below its highs earlier this year (though, we should note, it's had a nice bounce off its mid-May lows). Nevertheless, we're interested to see where management can make an impact despite the poor operating backdrop, and whether any improvement has been seen. In a note last week, analysts at Bank of America said Home Depot's elevated exposure to the Pro customer — relative to Lowe's — is expected to provide an offset to a weaker DIY customer. Accordingly, BofA expects Home Depot's comparable stores growth to outpace Lowe's for the remainder of the year.

  2. Spending at stores and restaurants dipped in July Retail sales declined in July for the first time in months, down 0.6% from June, according to Friday's report from the Commerce Department. People spent a bit less on electronics, autos and auto parts, as well as gasoline thanks to gas prices dipping month-to-month.

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    New York Post Business

    Retail sales dropped 0.6% last month after an unrevised 0.2% gain in June. The decline was the first since last October and was the largest in 14 months. AFP via Getty Images

  3. The unexpected decline in retail sales reported by the Commerce Department on Friday was also payback after Amazon pulled forward its Prime Day event to June from July, with other retailers offering competing promotions.

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    NPR Economy

    But the big factor was Prime Day. This big sales event led by Amazon took place in June, and so spending at online stores dropped 2.2% from June to July.

From the margins

4 details only one outlet reported

Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.

  1. 01 CNBC

    Earnings season is winding down, but a few stragglers in the portfolio are still left to report this week. There are also a few notable macroeconomic reports on the horizon. The common thread between this week's earnings and economic updates is the housing market and the health of the consumer. Let's get into it. 1. Housing: The most important updates on the housing market will come from the earnings reports and conference call commentary from Club name Home Depot , primary competitor Lowe's , and luxury homebuilder Toll Brothers . But that's not the only data on this important industry on tap this week. On Tuesday morning, we'll get both July housing starts from the Commerce Department and the National Association of Realtors' pending home sales report.

  2. 02 Fortune

    Wall Street will get financial updates from some of the nation’s biggest retailers this week, along with more details from the Federal Reserve’s most recent meeting.

  3. 03 New York Post Business

    A retreat in gasoline prices also weighed on receipts at service stations. The report added to unexpected job losses last month and mild inflation readings in bolstering financial market expectations that the Federal Reserve would not raise interest rates in September, barring upward surprises to August price and employment data.

  4. 04 NPR Economy

    How is inflation showing up on supermarket shelves and at the gas pump? How are families coping? What are they splurging on? These were among some of the insights delivered this week about the economy.

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Sources (4)

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Original Articles (4)

Center Here are the 2 big things we're watching in the stock market in the week ahead — CNBC
Lean Left Earnings from Walmart and other top retailers will give investors more clues on the housing market and how consumers are grappling with inflation — Fortune
Lean Right Retail sales unexpectedly drop for first time in 9 months — making it difficult for Fed to hike rates — New York Post Business
Lean Left We learned 5 important things about the economy this week — NPR Economy