Retail

The hottest inflation in nearly 40 years is starting to weigh on consumers, who pulled back on spending at retail stores in July, the Commerce Department said.

U.S. retailers including Target and Best Buy Co Inc. cut their profitability forecasts in recent weeks as consumers curtailed spending on items like apparel and electronics.

Lowe's same-store sales decreased 0.3% in the second quarter, compared with analysts' average estimate of a 2.4% increase, according to Refinitiv IBES data.

Traders will have retailers on the mind in Wednesday's session as monthly sales are reported as well as earnings from Lowe's and Target.

Walmart reported that baby formula supplies are growing during their quarterly earnings report on Tuesday, after a long baby formula shortage in the U.S.

The e-commerce behemoth, which has previously absorbed its cost increases during the holidays, has warned that "seasonal expenses are reaching new heights."

Bed Bath & Beyond extended gains after an SEC filing showed GameStop investor Ryan Cohen bought call options in the retailer, stoking meme interest.

The Girl Scouts announced the Raspberry Rally as the newest cookie to join the organization's 2023 lineup. It is described as being similar to the Thin Mint.

20 states have lowered or abandoned their sales tax this year in time for back-to-school shopping to help consumers save money as the rate of inflation remains near a four-decade high.

Viral video purportedly shows panicked shoppers scrambling to escape a Shanghai Ikea over the weekend as authorities shut down the store over COVID-19.

The lawsuit covers a group of 14,683 current and former Apple retail workers in California who argued they were not being paid for time spent while waiting and undergoing exit searches.

CFRA senior equity adviser discusses Walmart's positive earnings and argues the retail giant has a positive approach to combating changes in consumer spending habits.

Walmart's total revenue rose 8.4% to $152.86 billion in the second quarter, helped by demand for food and other essential items. The retailer's stock has fallen over 8% this year.

The largest U.S. home improvement chain's comparable sales rose 5.8% for the second quarter, while analysts had expected a 4.9% growth, according to IBES data from Refinitiv.