Stein Mart stumbles as U.S. retail sales, appliance imports recover in July

China 2719 Cons. Discr. - Apparel 402 Cons. Discr. - Durables 388 Cons. Discr. - Retailing 353 Coronavirus 471 Financing 112 U.S. 4835

U.S. retail sales continued to recover in July with an 8.5% year over year increase. Among traditional stores, furniture and electricals stores did best with growth of 6.8% and 8.6% respectively while department stores continued to do poorly with a 9.1% slide. Many retailers are still struggling. Stein Mart became the latest multi-line retailer to enter Chapter 11 bankruptcy with U.S. seaborne imports linked to the firm having dropped by 79.4% year over year in July after sliding 31.8% lower in Q2. The recovery in the fortunes of electrical retailers looks set to continue with total U.S....

Copyright © 2021 Panjiva Supply Chain Intelligence, a product offering from S&P Global Market Intelligence Inc. All rights reserved.