Amazon’s strong quarterly results are one more sign that Americans are still shopping, despite months of ominous economic indicators, and could be a positive signal for Walmart and Target, who report next week.
Amazon’s performance following its Prime Day was a “good read for discount retailers,” however, said Joseph Feldman, an analyst with Telsey Advisory Group. “I think that value-based retailers like Walmart and Target” will hold up better than others, he said.
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