US retail sales beat expectations
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Sales at retailers rebounded in June after the White House dialed back high U.S. tariffs, as consumers temporarily shrugged off the trade wars and spent more on cars, clothes, do-it-yourself projects and dining out.
Spending rose at a faster clip than expected in June as American consumers once again buck concerns that slowing economic conditions and tariff-related price increases would crimp spending.
US retail sales rebounded in June in a broad advance, potentially tempering some concerns about a retrenchment in consumer spending.
US retail sales surged 0.6% MoM, far exceeding expectations and signaling robust consumer demand despite recent tariff volatility. Read more on the market's focus.
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PepsiCo is reporting better-than-expected earnings and revenue in the second quarter despite sluggish North American sales.
June retail sales data will give investors a look at how tariff-fueled inflation is shaping consumer spending.
Contrasting AutoNation's weak balance sheet with its strong sales, we draw attention to some of it underlying weaknesses of the retailer. Instead of parsing its car sales by gender or age, we think its margin, cash flow and debt load are more important issues to consider. We think its valuation is on the rich side and recommend a hold.
Bar owners in Cardiff saw their sales "skyrocket" as a result of the Oasis reunion tour which kickstarted at the Principality Stadium. The two gigs in the capital generated more than £4m for city centre venues with more than 810,000 pints pulled across the two days, according to trade body UK Hospitality.