Prior was +1.0%Sales were down in six of nine subsectors, led by autosFood and beverage +0.8%Ex-autos +0.2% vs -0.5% expectedPrior ex-autos +0.7%Ex-autos and gas 0.0% vs +1.1% priorretail e-commerce sales decreased 3.5% tOctober preliminary retail sales: “relatively unchanged”Retail sales were up 0.2% in the third quarter
There were indications of strong retail sales in October, including those tied to the Blue Jays’ World Series run, which we see in food and beverage. Walmart was also upbeat on Canadian consumer spending in Q3 and Canadian Tire was “cautiously optimistic” and spoke about “admirable resilience” in Canadian shoppers, including in lower-income cohorts. One lagging area could be ecommerce given the Canada Post strike.
By sector:
This article was written by Adam Button at investinglive.com.