Retail Wrap: August 14, 2017

Data updates and industry intelligence

August 11, 2017

Millennial Splurges: One-third (32%) of Millennials say they're prone to "excessive or frivolous spending," according to a survey from Northwestern Mutual. That compares with 26% for Gen X and 19% for baby boomers.  Nearly 1 in 4 (23%) said they have hidden purchases from a spouse or partner.

Penney Posts: As with other department stores, JC Penney's second-quarter results showed same-store sales trending in a positive direction, with comparables off 1.3%, a better showing than the first quarter decline of 3.5%.  And as with other department stores, the quarter's positive signals did little to suggest the sector's challenges are abating.

Summer Bust: So far, summer's tentpole movies have failed to draw big crowds, the Wall Street Journal reports. Ticket sales are down about 5% in the U.S. and Canada so far this year, the Journal reported, citing Nielsen data, while revenues are off 2.9%.