British retail sales jumped back almost to pre-coronavirus lockdown levels in June when non-essential stores in England reopened, giving a boost to beleaguered clothing stores.
Ford Motor said its China vehicle sales increased 3% in April-June from a year earlier, its first quarterly sales rise in the world’s bigggest auto market in almost three years.
US retail sales rose more than expected in June as consumers bought major items like motor vehicles and dined out, but a resurgence in new COVID-19 cases is chipping at the budding recovery, keeping 32 million Americans on unemployment benefits.
Global luxury brands including Gucci and Louis Vuitton are scaling back orders with Italian suppliers, as the spread of the coronavirus from key market China to major manufacturing hub Italy hits business across the sector, industry sources said.
Brazil’s retail sales ended the first half of the year on a strong footing, official figures showed, surging back to pre-crisis levels as the easing of lockdown measures to combat the coronavirus pandemic continued across the country.
Target Corporation reported its best quarterly comparable sales growth and online revenue that nearly tripled as customers took advantage of the retailer’s quick and contact-free delivery to shop for clothes, videogames and home decor.
Suzuki Motor Corp on Monday saw its operating profit nearly wiped out during the first quarter because of plunging car demand in India, its biggest market which has one of the world’s highest novel coronavirus infection rates.
BMW expects to make an operating profit this year despite losing 666 million euros ($787 million) in the second quarter after sales of its luxury cars slumped during coronavirus lockdowns, the company said.
US retail sales increased less than expected in July as consumers cut back on purchases and could slow further in the months ahead amid spiraling new COVID-19 infections and a reduction in unemployment benefit checks.