Retail and Pharmacy giant Walgreens now says there won’t be a second half rebound after all, not according to its view of the consumer economy. It was seconded by Levi’s and then European behemoth H&M. All of that ties together with a record low in US pending home sales and a summer driving season that’s already an enormous bust as recession forces bear down.
Eurodollar University’s Money & Macro Analysis
NBCNews Walgreens plans store closures as CEO says consumers ‘stunned’ by prices
https://www.nbcnews.com/business/business-news/walgreens-plans-store-closures-ceo-says-consumers-stunned-prices-rcna159208
CNBC Levi’s shares drop 15% as jeans maker’s sales disappoint despite denim craze
https://www.cnbc.com/2024/06/26/levi-levi-earnings-q2-2024.html
CNBC H&M plunges 13% on doubts over full-year margin target, June sales outlook
https://www.cnbc.com/2024/06/27/hm-plunges-12point5percent-on-doubts-over-full-year-margin-target-june-sales-outlook.html
Bloomberg US Pending Home Sales Index Slides to Record Low on High Rates
https://www.bloomberg.com/news/articles/2024-06-27/us-pending-home-sales-index-slides-to-record-low-on-high-rates
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