The calendar second quarter can be a rough one for retailers, as they ramp up for the back-to-school sales of the third quarter and holiday blitz at the end of the year.
Into that backdrop steps the most prominent U.S. retailer, Walmart Inc., and one of its most well-known department stores, Macy’s Inc. Both companies are projected to post earnings declines when they report in the week ahead, echoing similar downward trends across the retail industry. Industry dynamics have retailers looking for ways to rein in costs, as shown by the latest corporate disclosures. Walgreens Boots Alliance Inc. WBA, -0.43% plans to close roughly 200 stores, according to a recent filing, while CVS Health Corp. CVS, +0.42% is opening stores at a slower rate. Look for Walmart and Macy’s to discuss cost-control efforts as well.
• E-commerce players from China will be a key theme, with JD.com Inc. JD, -1.60% scheduled to report Tuesday morning and Alibaba Group Holding Ltd. BABA, -1.91% due to follow on Thursday morning. China internet names have come under pressure recently, but data on retail spending in the country suggest trends improved slightly in the second quarter.• Two of the biggest names in marijuana will report this week, with former post-IPO hotshot Tilray Inc. TLRY, -3.
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