This post first appeared on FloatingPath
U.S. store sales for the week ending March 29 were especially weak, but both store sales reports point out that Easter falls three weeks later this year. This creates a bit of a problem when making year over year comparisons. Despite the weak sales, both reports seems to think that today’s weakness will be absorbed by Easter sales later this month.
The ICSC-Goldman store sales index was up 0.6% year over year, compared to up 1.7% Y/Y the week prior.
The Redbook store sales index was up 2.3% year over year, compared to up 2.1% Y/Y the week prior.
This hedge fund is so optimistic about COVID-19 that they’re short Clorox [In-Depth]
A lot has happened since the coronavirus pandemic began, but aside from the temporary selloff in March, the stock market has continued to hum along as if nothing has been happening. There's no denying that the financial markets have been changed by the pandemic, and investors should be thinking differently when it comes to investing Read More