Retail Sales Flat in August Wednesday, September 14, 1:54 PM ET
Retail sales were flat in August as compared to July, and July sales were weaker than initially reported.
The Commerce Department said sales growth in July was revised downward to 0.3%, compared to a prior estimate of 0.5%, and August sales were flat.
Excluding autos, sales rose 0.1% in August.
Fuel and grocery sales rose, while sales of autos, apparel, home furnishings and other items fell.
Also in the retail sector today, Goldman Sachs (NYSE:
GS) cut its rating on Nordstrom (NYSE: JWN) from buy to neutral, citing slowing sales.
The Retail HOLDRS (AMEX:
RTH) fund is trading up .6% Wednesday, with top stocks Wal-Mart (NYSE: WMT), Amazon.com (NASDAQ: AMZN) and Home Depot (NYSE: HD).
The Dynamic Retail Portfolio (AMEX:
PMR), with top stocks Whole Foods ( WFMI) and Costco (NASDAQ: COST), is trading flat.
The SPDR S&P Retail ETF (AMEX:
XRT), with small holdings in a wide range of stocks, is trading up over .5%.
For MarketNewsVideo.com, I'm Kristin Bianco.
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Retail Sales Flat in August
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