Short-term holders of Bitcoin are currently experiencing unrealized losses, with 88.3% of their supply underwater, leading to increased selling pressure in the market and potential liquidation by these holders.
Kohl's Q2 net sales decline 4.8% due to lower consumer spending, with the retailer focusing on delivering value to stay competitive, but facing challenges with its pricing strategy and market share.
Gap reported declining sales across all four of its brands in the second quarter, driven by strategic store closures and continued uncertainty among consumers, with net sales decreasing by 8% compared to last year.
Nordstrom reports a decline in sales and profits in its fiscal second quarter, reflecting cautious spending by shoppers.
Retail theft, known as "shrink," is becoming a growing problem for retailers, leading to concerns over profits and prompting companies to take preventative measures, such as installing locked cases and removing certain items from stores.
Dollar General cuts annual forecasts and misses profit and sales expectations due to weaker store traffic and increased sales of low-margin essentials, resulting in a 17% drop in its shares; the company has fallen short of earnings expectations for four consecutive quarters and cites heavy competition and high inflation as factors.
U.S. manufactured goods orders experienced a significant 2.1% decline in July, the first drop in four months, due in part to higher interest rates impacting business equipment spending.
San Francisco leads the nation in home sales losses, with 12.3% of home sellers in the city losing money, but most homeowners still make a profit, with median home prices selling for 70.5% more than they were bought for, according to a Redfin report. The high proportion of losses is attributed to layoffs in the tech industry and remote work allowing people to relocate to more affordable areas.
Retail sales in the US remained resilient in August, with a 0.6% month-on-month increase, surpassing expectations of 0.2%, indicating a positive trend for the economy.
Existing home sales fell 0.7% in August due to limited supply caused by higher mortgage rates, leading to rising home prices despite lower sales, according to the National Association of Realtors.
British retailers reported a smaller annual fall in sales for September and expect a modest improvement in the months ahead, according to the Confederation of British Industry (CBI).
Retail theft has increased in recent years, but its impact on retailers' profits remains consistent, with losses from internal and external theft making up 65% of total shrink, according to the National Retail Federation's 2022 survey.
Losses from retail crime reached $112.1 billion in 2022, causing retailers to implement changes in their operations and increase spending on loss prevention, according to a survey by the National Retail Federation.
