TSX:REI.UN - Post by User
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stockrook86on Aug 21, 2020 9:15am
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Retail Sales up Big
Retail Sales up Big https://www150.statcan.gc.ca/n1/daily-quotidien/200821/dq200821a-eng.htm?HPA=1
Canada over prepandemic retail levels in June, yes much of it is autos, but still bullish. Non-essential retail up 140% month over month, most interesting the share of e-commerce for overall retail declined.
Feeling great about Riocan now, retailers that are dying are department stores that were already done, or those that were over levered or just on the wrong side of work from home shift (Brooks Brothers). Foot Locker had great results this morning, more and more the retailers with success will be multi channel, even if you buy online you still want to window shop and browse in store.
Great interview with Ed Sonshine looking through Target's results saying just that, those customers in stores spend 10x more than digital only. https://www.bnnbloomberg.ca/economics/video/riocan-ceo-not-optimistic-about-the-business-landscape-in-canada~2017857