Retail industry sales (which exclude automobiles, gas stations, and restaurants) in June increased 0.3 percent seasonally adjusted from May and 5.5 percent unadjusted year-over-year, according to data from the National Retail Federation, which notes that it’s the 12th conservative month of retail sales growth.
The organization said warm weather, lower gas costs and strong Father’s Day promotions put consumers in a spending mood in June.
“A solid year of growth in sales provides further evidence that retailers continue to lead the charge in the economic recovery,” said Matthew Shay, NRF president and CEO. “While spending continues to surpass expectations, sustained growth in the retail sector depends on a strong labor market.”
“Retailers are hoping this momentum continues through the back to school season,” added Jack Kleinhenz, NRF chief economist. “Knowing that shoppers remain concerned about the economy, companies have already begun offering aggressive promotions to entice shoppers.”
June retail sales released by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 0.1 percent seasonally adjusted month-to-month and 8.4 percent unadjusted year-over-year.
Specific sales results from NRF include:
• Clothing and clothing accessories stores’ sales increased 0.7 percent seasonally adjusted over May and a 7.6 percent unadjusted year-over-year. Sales at building material and garden equipment stores increased 1.3 percent seasonally adjusted month-to-month and 8.5 percent unadjusted over last year.
• Sales at electronic and appliance stores decreased 0.2 percent seasonally adjusted month-to-month and fell 2.3 percent unadjusted from last year. Home furnishings stores sales decreased 0.8 percent seasonally adjusted over May and increased 0.2 percent unadjusted year-over-year.
• Health and personal care stores sales decreased 0.2 percent seasonally adjusted over May but increased 3.9 percent unadjusted year-over-year.
New home for All The Rage
4 years ago