Wall Street went into this week braced for a fading consumer.

Retail sales fell 0.6% in July, and traders sold retailers down in the days before their reports.

Then two of the biggest retailers in America reported.

Target (TGT) grew comparable sales 3.8%, ahead of the 2.4% consensus estimate.

Home Depot (HD) grew comparable sales 1.7%, nearly triple last quarter's pace.

Two reports, one message.

Shoppers are still in the stores and still spending: from groceries and beauty to paint and repairs. They are doing their research, boosting web visits higher than usual – but they are also following through.

Target is the strongest consumer read of the week

Customer visits grew 3.6% and drove the gain. Store sales grew 2.7%, digital sales grew 8.7%, and same-day delivery grew more than 25%.

Our data saw the crowd coming.

Consumer demand for Target is up 41% year over year. Growth has been building since late 2024. The stock now trades at a 52-week high.

Home Depot grew without any help from housing

Home Depot's beat came in harsh conditions. The share of homes changing hands is the smallest in at least three decades and has sat at stunted levels for four years.

Yet customers spent across the store.

Thirteen of sixteen departments grew, purchases over $1,000 rose 2.4%, and merchandising chief Billy Bastek said repair and maintenance projects led the way.

Web visits show a discerning consumer: searching out value when they do spend.

Three more stocks show the same spike in consumer interest, and their earnings remain on deck.

Ulta Beauty demand runs hot into its report

Consumer demand for Ulta Beauty (ULTA) is up 62% year over year.

That is the highest level of growth we have measured in two years.

Ulta shares are down 11% this year and trade 24% below their February high.

Fragrance is one category pulling the growth. Ulta said fragrance sales grew high-teens last quarter, led by luxury brands and boosted by new launches from Balmain and its exclusive brand NOYZ. Online sales grew mid-teens.

Nike's rebuilt running line reports in late September

Consumer demand for Nike (NKE) is up 31% from a year ago.

For the first time in many quarters, runners are helping to boost the traffic. Nike rebuilt its road lineup around the Pegasus and Vomero families and beat estimates in its June report.

On Reddit's running boards, reviews of the Pegasus 42, released in April, run about 77% positive. Runners praise it as a comfortable, durable everyday shoe, good for everything from easy miles to all-day wear.

Nike shares are down 35% this year. Its next report comes in late September.

Gap reports August 27 with demand up 58%

Gap Inc. has grown comparable sales nine quarters in a row.

The flagship Gap brand grew sales and comparable sales 10% in its May report, one of the brand's strongest performances in over two decades.

The stock sold off on a weaker than expected outlook.

Management trimmed full-year sales guidance to 1% to 2% growth, and shares fell 15% the next day. Gap shares are down 21% this year and trade 31% below their February high.

Our data suggests that outlook may have been conservative.

Consumer demand for Gap (GAP) is up 58% year over year into the August 27 report.

Bottom line: Data says the consumer is still stronger than Wall Street expects.