Tepid Expectations From June Retail Sales
We have seen two retail figures showing a very tepid June for same-store sales. The Redbook was released for the first 4-weeks of June that was up 0.4% from May and up 2.3% from the same period a year ago. …
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Now we have data from Retail Metrics that came out Monday evening showing that a lack of catalysts is generating modest same-store sales expectations as store and mall checks have shown very modest traffic and conversion levels. Another issue is that the comparables from a year ago were so high.
What are some of the common themes driving the slow trend? Of course there is Europe, but there is also a worsening jobs front and slowing economic growth domestically as growth elsewhere dries up.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
