U.S. home furnishings stores sales slipped in May

Source:Home Textiles Today

Retail sales rose in May, but home furnishings and furniture stores did not grab a bigger share of the dollars being spent.

 

 

Retail sales rose in May, but home furnishings and furniture stores did not grab a bigger share of the dollars being spent.

 

Sales at furniture and home furnishings stores ’ decreased 0.1% month over month following a surge in April and ticked down 0.7% unadjusted over last year, according to the National Retail Federation.

 

Total retail sales in May rose 3.2% year over year. Excluding automobiles, gasoline stations and restaurants, retail sales rose 0.2% unadjusted over April, according to NRF’s calculations.

 

With automobiles, gasoline stations and restaurants included, U.S. retail sales increased 0.5% in May.

 

“May's retail sales show a solid reading, reinforcing that consumer spending continues to be a bright spot in the economy,” NRF chief economist Jack Kleinhenz said. “Improvement in the labor market — which has seen additional jobs and rising wages — has no doubt influenced retail sales and shows that households are feeling better about spending and the economy.”

 

Sales also fell at building materials and general merchandise stores. Gains were made at sporting goods, non-store, clothing and electronics stores.

 

Online and other non-store sales increased 1.3% seasonally adjusted over the previous month and 16% unadjusted year over year.

 

(Source: Home Textiles Today)

 

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