We're encouraged by the year-over-year strength in online sales and food services and we think TJX can outshine any slowdown in clothing.
Looking ahead, the September numbers don't reflect the restart of student loan payments. We're going to have to see if that slows consumers down. If student loans were to be a drag on Americans' spending, then the Fed might be able to overlook the stronger September retail sales and not put the data in the "we need to hike again" category. We're also optimistic heading into the holiday shopping season.
U.S. retail sales for last month came in much stronger than expected on Tuesday, signaling shoppers were not deterred by sticky inflation. That's certainly good news overall for consumer stocks.
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This Week in Business: Retail sales, home sales, industrial productionThe Commerce Department reports on retail sales for September on Tuesday. The Federal Reserve issues its monthly industrial production report, for September, also on Tuesday. The National Association of Realtors issues its home sales report for September on Thursday.
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Retail sales rise sharply due to strong car sales and higher gas pricesHoliday-shopping season is fast approaching
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