This week in retail: big box earnings and new inflation data

In what some are calling “Summerween,” the fall holiday sales season is kicking off early with the opening of Halloween costume stores like Spirit Halloween and the release of Halloween-themed candy from makers like Hershey. And of course, retailers continue to offer back-to-school deals.

Here’s what else is going on in retail this week:

In earnings: Two big box stores are reporting their Q2 earnings this week, starting with Home Depot on Tuesday and followed by Walmart on Thursday. What to expect? In Q1, Home Depot CFO Richard McPhail told shareholders that high interest rates were weighing on consumers, as sales declined 2.3% YoY, a trend that could continue in Q2 as the home improvement retailer has struggled to attract DIY customers. As for Walmart, its winning streak continued in Q1 with a 6% YoY bump in revenue and a 22% jump in US e-commerce sales.

In data: It’s a big week for data releases that should be relevant to retailers. The consumer price index for July is dropping on Wednesday, and for context, the measure last month showed inflation rose 3% year over year, which marked continued slowing. July retail sales numbers will follow on Thursday. Looking back at June, sales were flat but better than some economists had predicted, and apparel in particular performed well.

In events: The National Retail Federation is hosting its invitation-only Emerging Leaders Summit on Monday and Tuesday. The event consists of networking, educational, and skill-building opportunities for retail professionals who are in the first two to five years of their career. NRF is also hosting an event in California later in the week where retailers and legal experts will discuss issues affecting the industry in the state.