5 Sept 2021
U.S. Retail Sales May Rise with Schools Opening
The Index Today
A strong sales from the autumn back to school could provide U.S. retailers some needed driving power after many sector shares fallback the larger market in the last recent months.
According to the data, the S&P 500 retailing index, which includes Amazon.com Inc, is up just about 2% for the quarter so far, compared with a 6% gain in the S&P 500. Some retailers, including Macy's Inc and Walmart Inc, mentioned a good back-to-school data recently as they increased annual U.S. sales forecasts, but further sales data and the U.S. August retail report are expected later this month to increase as well.
With the help of advance child tax credits and stimulus checks related to the pandemic, some consumers have had extra cash to load up on backpacks and other school supplies.
Most schools in the US are now returning this year in a classroom set up after months of remote learning. On Sept. 13, New York City's public schools will reopen and the other metro area schools begin in the days after the Labor Day weekend.