Jul 23, 2026
May’s retail sales matched estimates, rising 1% M/M despite relatively flat volumes…
… on broad-based gains at the category level, led by a 3% jump in sales at gas stations and fuel vendors…
… which continue to take retail wallet share. With groceries holding steady M/M…
… discretionary spend continues to bleed share, hitting a two-year low after becoming elevated post-pandemic.
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