Today, November 16, US National Bureau of Statistics reportedthat in October, retail sales in the country amounted to $ 638.2 billion. This is 1.7% more than a month earlier, and 16.3% more than in October last year. October dynamics became the highest since March this year and exceeded the forecasts of analysts polled by Bloomberg, who had expected an increase of 1.4% compared to September. Experts attribute the good results of October to the continuing recovery of the American economy, which leads to an increase in American earnings. In addition, the shortage of goods that analysts expected due to supply disruptions was not so significant in October.
Also today, the largest retail chain Walmart in the US and the world reported good results for the third quarter – sales grew by 9.2% compared to the third quarter of last year. This allowed Walmart to raise its own profit forecast for the current year – in terms of per share, the company now expects earnings of about $ 6.4, while previously expected $ 6.2-6.3. Walmart also said it has stocked well for the upcoming holiday season, despite supply disruptions that are plaguing many manufacturers and retailers – Walmart’s inventory is up 11.5% in Q3, up from Q3. quarter of last year.
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