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- Yahoo
US July clothing sales surge as consumers seek deals before tariffs
According to the CNBC/NRF Retail Monitor, US clothing and accessories stores experienced a 1.75% rise month over month after seasonal adjustments. The unseasoned figures are even more promising, with a 6.73% year-over-year increase in sales within these categories. NRF president and CEO Matthew Shay said: 'Consumer spending increased in July, driven by successful summer sales events held by many retailers and shoppers continuing to pull purchases forward ahead of tariffs. 'Month-over-month gains were sizeable against a weaker-than-normal June. We may be seeing growing inflationary impacts from tariffs since recent data shows price increases in commodity goods, particularly non-durables. Even with weaker job growth than many expected, consumers still have the ability to spend on household priorities as wages are growing above the rate of inflation.' The Retail Monitor, which is powered by Affinity Solutions, revealed that retail sales (excluding automobiles and gasoline), climbed by 1.45% on a seasonally adjusted basis from the previous month and exhibited robust 5.89% unadjusted growth year over year for July. This performance is set against a 3.19% year-over-year uptick in June. Core retail sales, which further exclude restaurants alongside automobile dealers and gasoline stations, also showed positive momentum with a 1.55% month-over-month increase in July and a significant 5.93% rise on an annual basis. The comprehensive assessment for the initial seven months of the year points to a 4.83% year-over-year surge in total sales, with core sales advancing by 5.07%. The upward trajectory was consistent across most categories, with digital products, sporting goods stores, and general merchandise stores leading the charge. The sporting goods sector, encompassing hobby, music, and bookstores, saw a seasonally adjusted monthly increase of 2.36% and an impressive unadjusted annual growth of 9.99%. Furniture and home furnishing stores also enjoyed gains both monthly (0.98%) and yearly (1.53%). A forecast by the NRF and Hackett Associates indicates a 5.6% downturn in US import cargo volumes at major container ports by the end of 2025 due to new tariffs affecting global trade flows. In addition, a recent study from the National Foreign Trade Council (NFTC) suggests current US trade policies and tariff implementations are impeding growth and investment across several industries, including textiles, thus challenging business competitiveness. "US July clothing sales surge as consumers seek deals before tariffs" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
3 minutes ago
- Yahoo
Xpand raises $6m to support autonomous retail stores growth
Israel-headquartered retail technology startup Xpand has raised $6m in a funding round to expand its AI-powered autonomous retail stores globally. The investment, led by Ibex Investors and Emerge, will support the launch of Xpand's first smart autonomous store in Vienna, Austria, and 'the company's plan to expand access to efficient, frictionless retail infrastructure worldwide'. The new funding will be instrumental for Xpand as it enters the next phase of growth, with a focus on the deployment of its "store-in-a-box" units. The modular stores operate without staff, using robotics, computer vision and real-time inventory management to provide a 24/7 shopping experience. The new capital will expedite the rollout of stores across Europe and North America, as well as expanding the company's sales, marketing and technology teams. The executive team's participation in the funding round included chairman and CEO Joel Bar-El. Bar-El, who co-founded Trax Retail, brings industry expertise to the company, along with other senior team members from SAP, Retalix, Bringg and Magic Leap. 'With this new investment, we are ready to move from vision to global execution,' Bar-El stated. 'The Vienna store is only the beginning. Our leadership team is deeply committed to bringing scaleable, autonomous retail to life.' Xpand was originally founded as 1MRobotics in 2021. It underwent rebranding to better represent its transition from research and development to commercialisation. Bar-El added: 'Our mission is to power the next generation of retail - autonomous, scaleable, and always on. We are excited to partner with global retailers to bring this model to life.' "Xpand raises $6m to support autonomous retail stores growth" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 minutes ago
- Yahoo
Lifezone Metals secures $60m bridge loan for Tanzania nickel project
Lifezone Metals' wholly owned subsidiary, Kabanga Nickel, has secured a $60m (£44.57m) bridge loan facility from Taurus Mining Finance Fund No. 2 to fund early works and infrastructure development at its flagship Kabanga nickel project in north-west Tanzania. The senior secured bridge loan will ensure continued momentum during the transition from feasibility study completion to the final investment decision (FID), anticipated in mid-2026. The loan carries an interest rate of 9.25% per annum on drawn amounts, with quarterly payments, and is accompanied by arrangement and commitment fees. Lifezone Metals CEO Chris Showalter said: 'This announcement further demonstrates the preparation and strategic steps Lifezone has taken in anticipation of consolidating 100% ownership of Kabanga Nickel Limited (KNL), which we completed last month. 'The support from Taurus, a respected and experienced mining finance partner, reflects the strength of our project and our team's ability to deliver. With the feasibility study now complete, Taurus's funding enables us to advance critical early-stage development while progressing the competitive process under way with Standard Chartered to select additional strategic investment partners. In parallel, we are advancing the project financing process with Société Générale, as we work toward a comprehensive funding solution for the Kabanga nickel project.' Collateral for the loan includes a security interest in the shares Lifezone indirectly holds in Kabanga Nickel, as well as security interests in other project-related assets. Additional guarantees are provided by other Lifezone subsidiaries. As part of the agreement, Lifezone Metals has issued 2.5 million warrants to Taurus, with a five-year expiry and an exercise price of $5.42 per share. The loan's availability is contingent upon meeting standard conditions precedent, with a maturity date set for 31 July 2027, and an option for Kabanga Nickel to extend for an additional six months. Concurrently, Lifezone Metals has amended terms with its debenture holders regarding the company's existing senior unsecured convertible debentures. The Kabanga nickel project is recognised as one of the world's largest and highest-grade development-ready nickel, copper and cobalt sulphide deposits. It boasts an 18-year life of mine, with Lifezone's attributable ore production estimated at 43.9 million tonnes (mt), with high grades of nickel, copper and cobalt. The project anticipates a 3.4mt per annum concentrator output, generating significant quantities of nickel, copper and cobalt concentrate. In July 2025, Lifezone Metals concluded a definitive agreement with BHP Billiton (UK) DDS to acquire its 17% stake in KNL. This acquisition grants Lifezone full ownership of KNL, which holds an 84% interest in Tembo Nickel Corporation Limited (TNCL), the Tanzanian operating company for the project. The remaining 16% of TNCL is owned by the Government of Tanzania. "Lifezone Metals secures $60m bridge loan for Tanzania nickel project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
