Friday, October 14, 2016

Retail Sales Rise

Today we received a pretty decent Retail Sales Report from the Census Bureau. The report cited sales were up 0.6% in September from August, and up 2.2% from September 2015 to September 2016.

There were some interesting trends we can see in greater detail from this report. Here is an excerpt from IBD

The retail sales report reflected and shed light on evolving industry dynamics.

Auto sales hit the gas in September, rising to a 17.76 million annual rate from

17 million the prior month. While unit sales dropped from a year ago at Ford (F), General Motors (GM) and Fiat Chrysler (FCAU), sales of higher-margin pickups and SUVs performed relatively well.

Sales from nonstore retailers led by Amazon (AMZN) rose 0.3% from August and 10.6% from a year ago following a rare 0.1% drop the prior month that was possibly an aftereffect of Amazon Prime Day in July.

Sales at electronics and appliance stores such as Best Buy (BBY) fell 0.9% despite the iPhone launch in mid-September. Best Buy shares are trading near 52-week highs. Apple is near 2016 highs after strong initial iPhone 7 demand and again this month as Samsung faced repeated overheating problems with its Note 7, finally deciding to end sales and production of the smartphone. Sales at food service and drinking places had been decelerating, as fast-food chains like McDonald's (MCD) cite pressure from the growing cost gap between eating in and eating out. But sector sales rose 0.8% in September after a revised gain of 0.7% in August

No comments :

Post a Comment