It’s a major week for retail earnings.
Walmart, Target, Macy’s, TJX Companies, Kohl’s, Ross, and Tapestry Inc. all report earnings for the second quarter this week. Shipping delays, the impact of the Delta variant, and the back-to-school and holiday season are likely to be top of mind in the reports.
Thus far, this retail earnings season has been marked by recovery trends and a general return to pre-pandemic sales levels. And while certain elements such as the rise in e-commerce and direct-to-consumer sales appear to be here to stay, many companies are reporting a return to pre-pandemic activity.
In June, consumer worry was down for the first time since the peak of the COVID-19 pandemic, according to First Insight’s consumer survey. Consumer worry dropped to 59% compared to 87% in April 2020.
at FN
