Yesterday's strong retail sales numbers confirm the fact that there is something of a party going on in retail, with consumers spending in a relatively carefree way. However, this is a party to which J.C. Penney was not invited.
Nordstrom was firing on all cylinders in its second quarter, fueled by strong gains in digital sales and robust traffic at its off-price and regular-price stores.
Despite concerns about the growing trade war, consumers continued to spend in July — a move that contributed to the sixth consecutive month of retail sales gains.