WASHINGTON – July sales were up in all but two of nine retail channels on a yearly basis and up in all but four categories on a monthly basis, according to new data from the CNBC/NRF Retail Monitor.
Furniture and home furnishings stores underperformed the broader trend, declining 0.04% month over month seasonally adjusted but up 2.71% year over year unadjusted.
The Retail Monitor calculation of core retail sales (excluding restaurants, auto dealers and gas stations) was up 0.3% month over month in July and was up 4.72% year over year. That compared with increases of 0.36% month over month and 10.08% year over year in June.
During the first seven months of the year, core sales were up 6.53%. Total sales (excluding automobile dealers and gasoline stations but including restaurants) were up 6.57% year over year for the seven-month period.
“Retail sales maintained their steady upward momentum in July as consumers kept shopping despite ups and downs in other economic indicators,” said NRF President and CEO Matthew Shay.
He credited a low unemployment rate and steady wage gains.
“[H]ouseholds remained budget conscious but took full advantage of midsummer sales and early back-to-school promotions to stretch their dollars,” he added.
In contrast to the survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions.
In addition to the data for furniture and home furnishings stores cited above, specifics from key sectors include:
- Electronics and appliance stores were down 0.05% month over month seasonally adjusted but up 12.04% year over year unadjusted.
- Digital products (such as electronic books and games) were up 1.21% month over month seasonally adjusted and up 12.02% year over year unadjusted.
- Health and personal care stores were up 0.53% month over month seasonally adjusted and up 10.07% year over year unadjusted.
- General merchandise stores were up 0.47% month over month seasonally adjusted and up 8.3% year over year unadjusted.
- Clothing and accessories stores were up 0.51% month over month seasonally adjusted and up 6.55% year over year unadjusted.
- Grocery and beverage stores were up 0.46% month over month seasonally adjusted and up 4.52% year over year unadjusted.
- Building and garden supply stores were down 0.17% month over month seasonally adjusted and down 1.2% year over year unadjusted.
- Sporting goods, hobby, music and book stores were down 0.47% month over month seasonally adjusted and down 3.01% year over year unadjusted.
