Walmart Releases Q3 FY21 Earnings

Eric Hoplin, CEO and President of the National Association of Wholesaler-Distributors warned that American consumers and businesses should expect to "feel the pinch" if the International Longshoremen's Association (ILA) decides to move forward. The move would impact ports that handle about half of the nation’s cargo from ships. According to Hoplin, if the ports were to shut down for a single day and remain closed for three to five days, the American economy could take a $3.7 billion hit "every single day." Despite the economic toll the strikes would have, Hoplin suggested that there is some temporary "good news."

Online retail sales grew more than five times faster in June than total sales, according to data from the National Retail Federation’s Retail Monitor and CNBC. And while online and total retail sales both grew in June — year over year as well as month over month — consumers are still prioritizing non-discretionary purchases in the face of high interest rates and lingering inflation, said NRF president and CEO Matthew Shay. “Inflation has dropped to nearly zero for goods, but remains persistent with services, and solid economic fundamentals are helping consumers make ends meet,” Shay said.

Total revenues across all categories for October 2021 were up 23.1% as compared to October 2020, coming in at $1.4 billion. Year to date revenues were up 13.7%, at $13.1 billion for the first ten months of the year. Trade (Consumer Books) sales were up 16.8% in October, coming in at $1.1 billion. Religious press revenues were up 29.4% in October, coming in at $71.3 million. During October of 2021 Education revenues were $284.4 million, up 62.4% compared with October of 2020. Professional Books, including business, medical, law, technical and scientific, were up 5.3% during the month, coming in at $29.5 million.