The second-quarter earnings season has proven solid so far, with 84% of S&P 500 companies beating expectations, according to FactSet. Retail sales fell in July for the first time in nine months, while analysts remain concerned about the K-shaped economy that disproportionately impacts lower-income households. Walmart will release its results on Thursday with expected EPS of 74 cents and revenue of $186.62 billion. Target is set to report on Wednesday with estimated EPS of $2.35 and revenue of $26.15 billion. The retail sector is expected to show 67% earnings growth compared to last year per LSEG, though analysts recommend being selective among retailers.
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