Advance Estimates of U.S. Retail and Food Services Advance estimates of U.S. retail and food services sales for July 2021, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $617.7 billion, a decrease of 1.1 percent ( ±0.5 percent) from the previous month, but 15.8 percent ( ±0.7 percent) above July 2020. Total sales for the May 2021 through July 2021 period were up 20.6 percent ( ±0.5 percent) from the same period a year ago.

The May 2021 to June 2021 percent change was revised from up 0.6 percent ( ±0.5 percent) to up 0.7 percent ( ±0.2 percent). Retail trade sales were down 1.5 percent ( ±0.5 percent) from June 2021, but up 13.3 percent ( ±0.7 percent) above last year. Clothing and clothing accessories stores were up 43.4 percent ( ±2.8 percent) from July 2020, while food services and drinking places were up 38.4 percent ( ±3.0 percent) from last year.

U.S. retail sales drop 1.1% in July on weak auto sales due to supply  shortages weighing on purchases of cars and trucks  and other goods, and the Delta variant of COVID-19  has kept consumer’s home. Motor vehicle & parts dealers (-3.9 percent vs -2.2 percent in June

Home Depot falls 3.2% after it missed Wall Street estimates for U.S. same-store sales for the first time in seven quarters. Last year the retailer surged sue to COVID-19 and people upgrading their homes with do-it-yourself home-improvement products  due to lockdowns. Now that the country is re-open, sales have decreased as people return to work and other activities outside the home.

Walmart’s shares fell 0.3% however the largest  retailer in the US  raised its annual U.S. same-store sales forecast. Adjusted EPS: $1.78 v. $1.57 estimate.

Revenue: $141 billion v. $136.88 billion.

Walmart U.S. comp-store sales (excluding gas): 5.2% v. 3.12% estimate.

Walmart U.S. e-commerce sales: 6%.

For the quarter, closely followed same-store sales came in at 5.2%, compared to forecasts of growth of 3.12%. On a two-year stack, the U.S. comp sales grew 14.5%. Reports Bloomberg News.

Lower on weak demand crude oil prices , oil stocks such as Exxon, Haliburton, Chevron, Marathon Oil, Occidental Petroleum, Schlumberger NV , Marathon Oil dipped 0.3% and 0.8% in premarket trading.

The Federal Reserve’s    policy tapering in the near future moves against an excellent earnings season.

With COVID-19 cases putting a slowness on  booking trends at Spirit Airlines,   the airline cut its revenue and margin forecast for the third quarter.