US Retail Sales Rise 0.32% in July as Mall Traffic and Earnings Outlook Improve
Updated
Updated · WWD · Aug 10
US Retail Sales Rise 0.32% in July as Mall Traffic and Earnings Outlook Improve
3 articles · Updated · WWD · Aug 10
Summary
U.S. retail sales excluding autos and gas rose 0.32% from June and 5.15% from a year earlier in July, showing consumers kept spending despite weaker confidence and geopolitical strains.
Low unemployment, steady wage gains, midsummer discounts and early back-to-school promotions helped sustain demand, while retailers also benefited from a strong stock market and post-pandemic travel and outing habits.
Placer.ai data backed that resilience: July mall visits rose 0.5% at outlet centers, 4.3% at indoor malls and 5.1% at open-air centers, with visit duration increasing across all three formats.
Ahead of second-quarter results, TD Cowen said Walmart may miss a 4% U.S. comp target but still grow operating income 10.4%, while BJ's and Target could beat sales expectations and Morgan Stanley stayed upbeat on Victoria's Secret.
Bank of America said World Cup host-city spending rose about 5%, though the broader GDP effect was modest, while Guggenheim warned investors remain wary as margin pressure and inventory issues cloud the sector's earnings season.