|
Retail Sales Unchanged Retail sales were unchanged in June after rising an upwardly revised 0.3% in May, according to the Commerce Department. Analysts had expected sales to fall 0.3%. Retail sales were up 2.3% over the past 12 months. Core retail sales rose 0.9%, much more than expected. Online store sales jumped 1.9%, adding to a 1.1% increase in May. Sales at gasoline stations dropped 3.0%, reflecting lower prices at the pump. Cheaper gasoline is likely freeing money for other spending. Building material and garden equipment store sales increased 1.4%. Sales at food services and drinking places, the only services component in the report, gained 0.3% after rising 0.4% in May. Economists view dining out as a key indicator of household finances. The retail sales report covers about a third of overall consumer spending and doesn't include services, such as travel and entertainment. The Home Depot The Home Depot made it Halloween in July, introducing an expanded collection of oversized outdoor Halloween décor in mid-July. Many familiar faces, like Skelly, the 12-foot skeleton that became an internet sensation a couple of years ago, have been joined by a whole graveyard full of new, spooky characters, several selling for hundreds of dollars. Consumers spent more than $12 billion on Halloween last year, only about $3.7 billion of which was candy. More than 75% of people celebrate Halloween; of those more than half decorate inside and out for the holiday. Lowe’s Lowe's is partnering with Charlotte-based world champion track star Anna Cockrell, who becomes the newest member of Lowe's Home Team. Cockrell is the first female athlete to join the lineup of world-class athletes, which includes Dallas Cowboys Quarterback Dak Prescott, Pro Bowl Tight End Travis Kelce, Pro Bowl Running Back Christian McCaffrey and recently drafted New England Patriots Quarterback Drake Maye. In celebration of their partnership with USA Track & Field, Lowe's gave a free American flag to the first 50 eligible members of MyLowe’s Rewards and MVPs Pro Rewards loyalty programs who visited their local Lowe's store on Saturday, July 27. Walmart Walmart is leasing clinical space to CenterWell, the health care services business of Humana. CenterWell plans to open senior-focused primary care centers. The centers will be located next to the Walmart stores in clinical office spaces that were formerly occupied by Walmart Health. In April, Walmart announced what they termed “a difficult decision” and closed their 51 Walmart Health clinics. Launched in 2019, the centers were designed to allow patients to manage their health care in one location, with services that include dental, primary care, behavioral health, x-ray, labs and more. Walmart said the business model was not sustainable or expandable. Sam’s is adding display ads to their popular Scan & Go app, which allows members shopping in-club to use their mobile devices to scan items as they shop, complete payment and skip the checkout line entirely. Sam’s said that adoption of the feature has surged by 50% over the past three years with one in three club members being a regular user. The feature will allow retailers to reach members directly and Sam’s to measure shopper behavior and ad performance in-store. No word yet on how users will react to ads in their Scan and Go app. Ace Hardware Ace intends to open 200 stores by the end of the year; they opened 203 stores in 2023. Ace has opened 111 new stores thus far this year, bringing the total domestic store count to more than 5,000. Ace says their new store growth has been fueled by existing retailers opening additional locations, competitor stores converting to Ace and new investors opening their first Ace Hardware store. Ace Hardware and Ace Handyman Services were awarded the 'Best of the Best' in the July/August issue of Entrepreneur magazine and on Entrepreneur.com. Ace was named best in the franchise opportunities category and Ace Handyman Services was best in the home repairs and handyman services category. Amazon Prime Day 2024 set new records, with shoppers spending a whopping $14.2 billion over the two-day event, according to a report from Adobe Analytics. Consumers spent $7.2 billion on day one, 11.2% more than they spent on day one last year. Day two spending remained robust, with consumers shelling out another $7 billion. Shoppers placed about 93,500 orders and purchased 188,000 items, based on a recap from data and tech company Numerator. More than 35,000 households shopped the sale, according to Numerator. © Robert Bosch Tool Corporation. All rights reserved, no copying or reproducing is permitted without prior written approval.
|
|
