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Anthony Ferry breaks down May Retail Sales, which fell more than expected. He notes pockets of strength in health & beauty and furniture. He notes that shipments from China are down significantly. “What people can get are what people are buying,” he says, and expects shelves to be emptier the next few months. However, he expects a very strong Prime Day sale for Amazon (AMZN).

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Empty Shelves, Less Shopping: Breaking Down May Retail Sales

Schwab Network

Empty Shelves, Less Shopping: Breaking Down May Retail Sales