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Finance Latest News: Costco Strong, L Brands Weak as Retailers Report June Sales

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Finance Latest News: Costco Strong, L Brands Weak as Retailers Report June Sales

Finance Latest News: Costco Strong, L Brands Weak as Retailers Report June Sales
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Finance Latest News: Costco Strong, L Brands Weak as Retailers Report June Sales

Wochit 1:09 mins

Sales at U.S. retailers, including Costco Wholesale Corp and the company that runs Victoria's Secret, suggest that overall U.S. consumer spending is improving while discretionary spending may remain under pressure. Analysts expect a 3.6 percent rise in June sales at stores open at least a year across the 11 U.S. chains that report this data each month. Global shipments of personal computers slumped 10.9 percent in the second quarter, the fifth straight quarterly decline in a market that has been devastated by the popularity of tablets. Marking the longest decline in the PC industry's history, PC makers shipped 76 million computers in the June quarter, compared with 85.3 million in the same quarter last year. KFC parent Yum Brands Inc reported an estimated 10 percent drop in June sales at established restaurants in China - a smaller decline than in May when drastically lower sales related to the country's bird flu outbreak began to moderate.

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