April 6, 2018
"The June results are positive, but the recovery in retail sales will be challenged in the coming months as long as doubts grow among shoppers," says Frank Badillo, senior economist at Retail Forward. "And it's clear that the news from the Gulf to Europe is starting to affect the outlook among shoppers."
Among the biggest gains: Nordstrom (14.1 percent), Zumiez (10.9 percent), Macy's (6.5 percent), Kohl's (5.9 percent), Ross Stores (5 percent), JCPenney (4.5 percent), TJX (3 percent), Saks (2.5 percent), Dillard's (2 percent) and Target (1.7 percent).
Among the biggest declines: Buckle (-7.3 percent), Duckwall-Alco (-6.6 percent), Hot Topic (-2.1 percent) and Stage Stores (-1.2 percent).
Meanwhile in international retail news:
For the quarter to July 3, Marks & Spencer's sales rose by 4.4 percent, the third consecutive quarter to show sales growth. However, although clothing performed strongly and sales in the food unit rose, the retailer proffered caution about results going forward. International sales were disappointed at less than 1 percent growth, something the company attributed to currency conversion issues and difficult trading in some markets.
Amazon has pitched into the U.K. grocery market by launching its 22,000-SKU product line this week. There has been a lot of buzz about a few offerings such as a whole lamb for £120 ($152). Amazon offers specialty foods, including vegan, gluten-free and kosher products, and plans to expand the range in the coming months. "Our aim is to be the place where customers can find and discover any product they want to buy online, and with the introduction of this new store there are thousands of household, niche, ethnic and international grocery items, all available at the click of a button," says James Leeson, Amazon's director of grocery.
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