Retail Sales Looking Weak for Clothing Outlets

This morning the Commerce Department announced retail sales rose 0.4% in July. However, clothing store sales fell 0.7%. That’s not a good thermometer reading from under the armpit of the US consumer.

Digging into the weeds, here are some notable data points from large retailers which announced earnings this week:

As the back-to-school season moves into high gear, we hope consumers were saving more in July to fulfill their late summer wish lists. If not, it will feel like a steep hike to the holiday season.

Disclosure: No positions.