Headline U.S. retail sales came in softer-than-expected for June, rising 0.2% versus the 0.5% increase economists were expecting, according to the Commerce Department.
But the retail sales control group, which excludes receipts from autos, building materials retailers, and gasoline stations, was up 0.56% compared to the 0.5% consensus estimates.
Online sales for the month accelerated to 1.9%, while sales at department stories and groceries fell 2.4% and 0.7%, respectively.
Over the long run, they expect Amazon to "continue to gain market share" through its 200 million Amazon Prime subscriber base.
The Amazon Prime logo is displayed on the side of an Amazon delivery truck on June 21, 2023 in Richmond, California.
Persons:
Jim Cramer, Jim Cramer's, Jim, Justin Sullivan
Organizations:
Club, Headline U.S, Commerce Department, Telsey, Group, Amazon, Amazon Web Services, CNBC
Locations:
United States, Richmond , California