Dive Summary:
- Early predictions on consumer spending have been conflicted by first quarter sales reports, disputing initial projections.
- Despite reported drops in U.S. consumer confidence scores, quarter one’s sales totals from all major retailers indicates that consumer spending remains healthy.
- Reports confirm evidence of respectable spending across all sectors, citing the increased first quarter earnings for brands ranging from Family Dollar to Coach.
From the article:
Genuine Parts Company (NYSE:GPC) hit a wall last quarter, yet all of the major auto parts retailers saw huge growth. The point is, investors should be picking and choosing within the retail group. Make no mistake, though — there’s plenty of consumer spending to go around.
