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%.
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 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.
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 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.
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.
