July’s retail sales shaped up largely as expected, falling 0.8% M/M on an identical decrease in volumes. Results were propped up by a 0.2% gain in vehicle sales…

… which was the only positive reading at the industry level, resulting in a miss on core sales which fell 1.2% versus June - led by a 2.5% decline in grocery store sales, as prices at the counter continue to inflate.

At a regional level, Ontario was the anchor - but Newfoundland and Labrador punched above its weight, losing 9% due to wildfires…

… that got worse in August, with the Kingston fire racking up insured losses of >$70M. Despite that, preliminary estimates for August indicate a 1% bump - as retail sales continue to chop sideways.