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.