07 Jul 3 Reasons To Be Upbeat About Retail This Summer
So says the latest note — under that same title — from Cowen and Co.’s consumer team, which analyzed consumer momentum for the season.
“We acknowledge rising labor costs, promotional cadences in retail and restaurants but overall consumption trends should remain robust,” the team said in a report Wednesday. “In fact, we estimate that 3 million consumers received wage increases on Friday.”
Noting that Target Corp. and Adidas are among the group’s top picks, the Cowen team rounded up several reasons they’re upbeat about summer.
This variable is finally cooperating with retail.
After adverse weather conditions pounded footwear and apparel brands and retailers during the past three quarters, conditions are expected to improve throughout July and August, which should bode well for retail.
The report noted that Weather Trends International forecasted warmer temperatures in July and August followed by a muted fall and an early winter — trends that should create a positive setup, according to the analysts.