Monday, August 21, 2017
National Retail News
Retail sales advanced 0.6% last month, the best showing since a gain of 0.9% last December, the Commerce Department reported. Sales got a boost in July from a 1.2% jump in auto sales, the strongest result since December. There were sales gains in other areas as well, including furniture stores, hardware stores and restaurants. For most of this year, retail sales have been lackluster, including a decline in May of 0.2% and a modest 0.3% June gain. Among retailers still reporting monthly sales, L Brands was down 7.0% and Costco was up 6.2%. See our sales reports on Page 4...Staples’ new private equity owner, Sycamore Partners, plans to spin off its retail operations from its corporate sales unit. In a filing with the Securities and Exchange Commission, Staples said it expects to separate its US retail business and Canadian retail businesses into two separate entities.