Retail Sales are Down for Major Companies

Retailers recently announced their latest sales numbers and things aren’t looking so good.
“Retailer numbers are going to be important,” said Paul Nolte, portfolio manager at Kingsview Asset Management. “Nationally they weren’t great so a lot of people are going to try to reconcile that with the companies reporting.”
While consumer spending in April won’t be reflected in earnings reports this week,growth in retail sales has been steadily dropping since the beginning of the year.
One of the management concerns most often cited this earnings season is that falling oil prices have done little to boost consumer spending, according to a recent Goldman Sachs note.

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