US retailers post upbeat sales numbers
Businesses shrug off investors' concerns that Paris attacks will chill consumer sentiment for year-end sales
New York
ROBUST sales numbers from Walmart, Home Depot and TJX on Tuesday are helping to ease concerns over the US consumer's health in the countdown to the Black Friday sales.
And some retailers also seemed to shrug off concerns that the Paris attacks would chill consumer sentiment heading into the Thanksgiving sales weekend.
Sluggish traffic and a build-up of inventory at Macy's and Nordstrom last week prompted a broad market sell-off in retail stocks. And investors fretted that consumers were not feeling flush despite a brightening economic outlook and a strong recovery in the job market.
But Walmart, the nation's largest retailer by sales, on Tuesday posted positive sales numbers for the fifth consecutive quarter, though it said that income declined as it continued to invest in its e-commerce operations and higher wa…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Billionaires selling cheap stuff get richer from inflation pain
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself
Japan’s Uniqlo opens Rome store as part of European expansion
Abbott beats quarterly profit estimates on strong medical device sales
Adidas shares surpass two-year high as 'terrace' sneaker trend boosts brand heat
LVMH’s first quarter sales growth slips to 3% on luxury slowdown