Also in this playlist...
This transcript is automatically generated
That or retail sales rose by a disappointing point 4% in June from the previous month that is half of the gains of economists were actually looking for -- take out.
Or those sales consumer spending essentially unchanged to stop a tiny bit.
Would get a break down the numbers -- Joseph Feldman retail analyst at the Chelsea advisory group Joseph thank you for being -- it.
As you have gone through these numbers you'll not quite as pessimistic as the headline numbers suggest that's right now -- because when you look at the core retail numbers.
The year every year number was opera three point 9% which is basically 4%.
And that's fairly solid especially when you factor in very low inflation.
You're seeing spending.
And we're seeing it in basic goods are seeing basic consumables staple items up but the trend is actually not so bad definitely a little disappointing from what -- was expected but.
-- mentioned the building materials he felt that was certainly in had an impact this time around absolutely yeah I mean we saw us and we data there with the building materials but you know when you look at the weather throughout the country it was actually some weak weather.
Challenging weather in the southeast for example hard to really get out there and do much projects lives it's raining on -- exactly it's raining nonstop so I think it was tough.
So what about the psyche of the consumer what are you trying you have how can you look at these numbers get a sense of where the considers that.
Well look when we -- more broadly we think stock market's been up nicely and home prices have been on.
And people have jobs I mean we'd like to see more job growth but still there are jobs.
The consumers not so bad right now the low income consumer is where we're seeing more pressure but that middle to upper.
We're seeing -- still very cautious some -- still very cautious still seeing.
Mostly basic spending you know last week Costco reported monthly sales at 5% traffic into the store as sort of a very strong numbers -- -- You know it's and again it's people going in buying basic every -- goods that they need.
Bubble to pop installs how they -- -- -- week I mean that Dallas you know they continue to be weak they're running down 5% or so a year over year.
You know the results don't seem to be -- that special we're seeing big discounts in the stores right now.
To try to clear out some of the merchandise -- not to say that there over merchandise but.
You know we are seeing some some discounts to clear well this'll leads into the all important back to school season -- -- shaping up.
Back to school looks okay so far we're not seeing heavy ordering for back to school I think the retailers are being conservative with the order steak place.
But we think it back to school will come it'll probably come a little closer to the actual need so probably August September's on Wednesday more the sales.
But it should mean you know a little more full price selling at that point can you -- as you look towards the end of the -- you expect more of the same with regard to.
Retail sales yeah we're looking at the moment probably -- low singles like around 3% 4% may be -- holiday season from the same store sales type basis in aggregate.
So not too bad.
You know and it's it's tighter season this year this 26 days vs 32 last year between Thanksgiving and Christmas so.
How much is the increase in hiring was seen nearly 200000 jobs added over the last three months is that being -- -- -- -- the retail sector -- absolutely were saying -- that the confidence -- people.
Having jobs are feeling that they made their secure -- their -- You do see this spending I mean we've seen that over the past year or so as the job numbers have been increasing and so it's been good for the consumer -- a little I feel better about it could have all right Geraldo thanks so much for joining us thank you appreciate it.
Filter by section