US retail sales jumped 0.7% in July, a six-month high | Home Depot reports higher-than-expected earnings | Yellow bankruptcy may provide property opportunities
According to the Commerce Department, US retail sales rose a better-than-forecast 0.7% in July from the previous month, as consumers kept spending in nearly all categories including apparel and dining out. Analysts said online sales grew 1.9%, fueled by Amazon's two-day Prime Day sale event.
Home Depot exceeded second-quarter earnings expectations but reported a slight dip in year-over-year sales, in line with its forecast that 2023 would be a moderate year as customers adjust to inflation and post-pandemic spending. CEO Ted Decker said sales were stronger among home improvement professionals than do-it-yourself consumers, but both dipped as professional backlogs remain high historically but have fallen from pandemic-era highs.
Yellow's bankruptcy is expected to result in hundreds of industrial properties for sale or lease, according to CoStar Group's August 2023 real estate data update. Although most of Yellow's properties were built before 1985, they offer abundant truck parking that's in short supply in major US markets. According to CoStar, more than nine million square feet of industrial space in over 240 cities is owned or leased by Yellow and its subsidiaries.
Heat exhaustion and fatigue on the job can increase heat-related injuries and the risk of a fatality, so companies need to ensure their risk assessment includes working conditions during summer heat and enforcing a heat plan, along with frequent water and shade breaks, writes Duane Duhamel, director of health, safety and environment at ISN. "[L]eaders who prioritize planning, preparation, education and action to protect their workers" can mitigate heat-related risks, Duhamel writes.
This year's peak cargo container shipping season will be "a shipper's market" as rates reached a stable plateau in July after jumping for the two months prior, according to Container xChange. "While some experts remain cautious, the foundation of a resilient economy, sustained consumer activity, and strategic federal investments improves the outlook of the upcoming holiday season," said Christian Roeloffs, Container xChange CEO, in a statement.
Several considerations go into each company's nearshoring decision, but new laws, regulations and the rise in automation are tipping the scales, according to an AlixPartners report. These factors have "the potential to leave permanent marks on the global supply chain across many sectors," the report says.
Brands can and should manage PR, email campaigns and events with in-house teams, writes pdxMindShare founder Kent Lewis, while external agencies are often best for analytics and measurement, paid media and creative work. Lewis notes that social media activity should reflect brands' authentic voice, though agencies can be helpful guides and provide resources.
Aiming for quantity instead of quality in sales sends the wrong message in business-to-business sales since mass, shot-in-the-dark pitching "ensure[s] the client's first experience with the company is an inbox full of spam," business consultant Anthony Iannarino writes. The more successful sales professionals work to gain customers' trust and equip themselves with the knowledge to be a savvy adviser, Iannarino notes.
Leaders who are achievers love to work hard and their enthusiasm for the job can inspire others to do their best, says executive coach and senior workplace consultant Jaclynn Robinson, but they should remember to build relationships with their direct reports, too. "When you've got a leader that is using Achiever in a way that is outward -- it's not about me, but it's about we -- and they're lending that sense of support, and they're championing other folks that have goals for themselves, and inspiring them and giving them those nudges," Robinson says.
