U.S. Retail Sector Momentum Grows Through The Second Quarter

Consumer spending comprises two-thirds of the nation’s gross domestic product and when retailers do well, so does the overall economy. At least that was the case for the second quarter as Walmart, Target, Home Depot and other mass retailers posted second quarter performances that fueled a 5.7% spike in retail sales.

Debra Weinswig, analyst at Coresight Research, surveyed some of the biggest players in the retail industry through the quarters ending in June, July or August. She compiled a report for what she calls “Second Quarter Recap” for simplicity’s sake, even though the individual companies included in the report might be on a different fiscal calendar. She said results were for companies reporting earnings between June and the end of August.

“The apparel, footwear, luxury and specialty sectors were clear winners, with robust growth in sales. Buoyant consumer sentiment and new fashion trends have boosted growth of the formerly lackluster apparel market,” she noted.     MORE

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