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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Aug 17, 2021
Page
8
Wall Street expects Walmart to report mixed results with second quarter earnings rising year over year while revenue declines. Analysts note earlier quarter gains as shoppers spent on clothing and household goods amid stimulus payments.
Economists forecast a seasonally adjusted 0.3 percent drop in U S retail sales for July from June, after a 0.6 percent rise in June as Americans spent on clothing electronics and dining out while pandemic restrictions eased. The Commerce Department will release July retail sales figures today.
Charles Field, CEO of TeacherLists, notes retailers cut back on aggressive pricing as stock tightens. He says back-to-school discounts are scarce this year due to pandemic-related supply-chain challenges and higher overseas production costs.
A volatile session on Wall Street saw the S&P 500 and Dow Jones edge to new highs after an early slide. Tesla and other equities moved amid a patent dispute with Google, with TSLA closing down 4.3 percent. The U.S. government probes the autopilot system of the electric vehicle maker, Tesla.
Lawrence considers zoning amendments to align growth with Plan 2040. New neighborhoods in tier two and tier three areas would only be eligible for city annexation if touching city boundaries. Denser housing would follow city standards. county rules currently require three acre lots. A joint resolution awaits final city and county votes after meetings.
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