4 Retail Stocks to Buy Amid Signs of Cautious Consumer Spending [Yahoo! Finance]
Abercrombie & Fitch Company (ANF)
Last abercrombie & fitch company earnings: 3/4 07:30 am
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Source: Yahoo! Finance
The Commerce Department's report revealed that sales rose a modest 0.1% on a month-on-month basis, a slight improvement over the revised 0.2% decline seen in April. Despite this small increase, the year-over-year growth rate stood at 2.3%. May's retail sales inched up to $703.1 billion, indicating a subdued consumer environment. The modest rise was driven partly by a rebound in sales from motor vehicle and parts dealers, though this was offset by a notable decline in sales at gas stations, attributed to falling gas prices. Economists noted that while the slight uptick in retail sales was better than the previous month's decline, it still painted a picture of a cautious consumer environment. The report suggests that Americans are tightening their belts. Interestingly, the subdued retail sales report might have a silver lining for monetary policy. Softer-than-expected consumer spending could prompt the Federal Reserve to reconsider its stance on interest rates. Market pundits anti
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ANF
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- 5/29/24 - Beat
ANF
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- 6/14/24 - Form 4
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