NEWS

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Palomar Press Briefing | August 4, 2021

 



 INDUSTRY NEWS

August 4, 2021

 

PUBLIX Q2 SALES EDGE UP

Publix continued its sales momentum in the second quarter even amid a challenging comparison with its year-ago pandemic-fueled increases. The grocer’s sales rose 3.9% to $11.8 billion for the three months ended June 26, from $11.4 billion in the year-ago period. Comparable store sales increased 2.3%.

GROCERY STORE VISITS RETURNING TO PRE-PANDEMIC PATTERNS

Shopping trips to grocery stores and superstores carrying food and medicine are returning back to normal, says a recent report on Placer.ai. Visits per visitor and weekend visits to the outlets were up significantly in the second quarter year over year while visit duration was down 5.4%.

WALMART TO PAY 100% OF COLLEGE TUITION, BOOKS FOR EMPLOYEES

Walmart is making a huge investment in its employees amid one of the worst labor shortages in years. The nation’s largest private employer is committing to invest nearly $1 billion during the next five years in career-driven training and development.

NEW BUSINESS OPENINGS EXCEED PRE-PANDEMIC LEVELS

This economy is rebounding from the COVID-19 downturn at a solid pace. Many consumers appear ready to spend, and more people are fully vaccinated every day. That’s good news for small and medium-sized service and retail businesses that were affected by the pandemic.

REITS EDGED SLIGHTLY HIGHER LAST WEEK

REITs had a small positive total return last week with a gain of 0.1% on the FTSE Nareit All Equity REITs Index (table). Broader markets were down a bit, with a -0.4% return on the Russell 1000. There was a relatively small amount of variation across the REIT property sectors.

PEOPLE FLOCKED TO THESE US METROS DURING COVID-19

Spacious affordable homes in less populated metropolitan areas are hot, while small expensive apartments in densely populated areas are not. Warmer weather also appeals to homebuyers. The COVID-19 pandemic shifted homebuyers’ preferences in a major way, making these three cities the hottest cities in the U.S. last year.

 

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