While American retailers continue to struggle to get back up to speed and get shoppers to return to their physical stores, retail sales in the Eurozone countries have returned to year-ago levels and in fact are beating them. Of course, these physical store gains occurred as people returned to shopping centers and districts after months of big online increases. U.S. retail sales in June had not pulled even with a year ago after seeing serious declines during the spring months. “It may be a flatter trajectory upwards,” Richard Moody, chief economist at Regions Financial Corp. told the Journal, as rising virus cases impact retail sales. The recovery in retail sales in Europe stands in as sharp a contrast to the situation in the U.S. as do the number of cases and deaths from the pandemic.

Source: Forbes August 09, 2020 17:03 UTC