National Retail Federation Releases June Retail Sales Figures
Retailers are hopeful that the back-to-school season will bring consumers back into stores after modest sales gains in June. The National Retail Federation (NRF) reported an increase of 3.4 percent unadjusted over the last year in retail industry sales for June (excluding automobiles, gas stations, and restaurants). This area also experienced a 0.5 percent decrease seasonally adjusted from May.
June retail sales released by the U.S. Commerce Department showed a decrease of 0.9 percent seasonally adjusted from last month and a 3.2-percent unadjusted increase year-over-year in total retail sales (including non-general merchandise categories).
NRF Chief Economist Rosalind Wells noticed customers scaling down purchases to focus on necessities and stated “retailers are now shifting their focus toward back-to-school, which should provide a nice sales boost in July and August.”
Health and personal care stores had a sales increase of 1.2 percent seasonally adjusted over May and 6.7 percent unadjusted from last June. General merchandise stores also did well, with a sales increase of 0.3 percent seasonally adjusted month-to-month and a 5.3 percent unadjusted year-over-year.
There was a 1.4 percent sales decrease seasonally adjusted month-to-month in clothing and clothing accessories. However, this same category increased 4.9 percent unadjusted year-over-year. The electronics and appliances category also had mixed results, with a sales decrease of 1.4 percent from May and an increase of 1.4 percent unadjusted from last June.
The weak housing market hit furniture and home furnishing stores and building material, garden equipment and supplies dealers very hard. There was a 3- percent sales decrease from last month and a 1.4-percent unadjusted year-over-year decrease at furniture and home furnishings stores. There was a 2.3-percent seasonally adjusted decrease from last month and a 2.6-percent unadjusted decrease over last June at building materials stores.
Go to www.nrf.com for more information.
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