Economy

This Week in Commerce: Lululemon and Chewy earnings, jobs report

Check out the calendar for May 30-June 2.

This Week in Commerce: Lululemon and Chewy earnings, jobs report
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Photo by Marco Tjokro on Unsplash

Welcome to a new week. Summer is just beginning, but earnings season is moving into its later stages. This week, Chewy, Lululemon and Macy's highlight the quarterly reports, while Hormel will offer an inside look at a CPG. To close out the week, the federal government will release the latest jobs data.

Here’s a look at what we’ll learn about the consumer economy this week:

Economic indicators

Consumer Confidence Index: The Conference Board issues monthly data on consumer buying conditions, expectations on inflation and other views on the state of the economy. (May 30, 10 a.m.)

Jobs report: The U.S. Labor Department reports data for May 2023 on the number of new jobs created, the unemployment rate and wages. This report is viewed as a key indicator of consumer demand, as people are more likely to spend if they have stable employment. (June 2, 8:30 a.m.)

Earnings

Wednesday, May 31: Chewy, Victoria’s Secret, Nordstrom, Salesforce.

Thursday, June 1: Hormel, Lululemon, Macy’s, PVH Corp., Lands End

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Operations

US imports expected to fall 22% in first half of 2023: NRF

Labor disputes on the West Coast could cause further disruption heading into peak season.

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Photo by Venti Views on Unsplash

When the first half of 2023 is complete, imports are expected to dip 22% below last year.

That’s according to new data from the Global Port Tracker, which is compiled monthly by the National Retail Federation and Hackett Associates.

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