This Week: JM Smucker earns, US home sales, Ross earns
A look at some of the key business events and economic indicators upcoming this week:
J.M. Smucker’s latest quarterly results should provide insight into the company’s efforts to revamp its business.
The maker of packaged foods recently agreed to sell its U.S. baking business. The move followed the acquisition of Kibbles ’n Bits and other pet food brands, which are seeing swift growth. J.M. Smucker issues quarterly results Tuesday.
EYE ON HOME SALES
Economists project that sales of previously occupied homes increased in July from a month earlier.
The pace of existing U.S. home sales slowed to 0.6 percent in June, the third straight monthly decline. Higher prices and a limited supply of listings have sidelined many would-be homebuyers. The National Association of Realtors is expected to report Wednesday that sales accelerated last month to a seasonally adjusted annual rate of 5.5 million.
Existing home sales, in millions, seasonally adjusted annual rate:
July (est.) 5.50
ON A ROLL
Ross Stores serves up its fiscal second-quarter snapshot Thursday.
Financial analysts predict the discount retailer’s earnings and revenue increased in the May-July quarter versus a year earlier. That would be in line with the company’s results in its fiscal first quarter. Ross Stores’ shares have climbed more than 14 percent since the beginning of the year.