NRF: Home Furnishings Category Helped in March

WASHINGTON - Home furnishings and furniture are among the product categories that benefitted from March's warm weather trends, spurring increases in retail sales for the ninth consecutive month.
     According to the National Retail Federation, March retail industry sales - which exclude automobiles, gas stations, and restaurants - grew 0.6% seasonally adjusted from February and 3.9% unadjusted year-over-year.
     With respect to furniture and home furnishing stores, sales increased 3.6% seasonally adjusted month-to-month and 3.8% unadjusted year-over-year.
     "Shoppers last month were eager to take advantage of retailers' spring promotions on everything from apparel to outdoor furniture," said Matthew Shay, NRF president and ceo. "While current indicators point to a more confident consumer, increasing gas prices and a cramped job market could hamper consumer spending during the upcoming summer months, a key time of year for retailers."
     March retail sales released last week by the U.S. Commerce Department showed total retail sales - which include the non-general merchandise categories NRF excludes from its figure - increased 0.4% seasonally adjusted over February and 7.3% unadjusted year-over-year.
     "Improving financial situations including the temporary payroll tax cut, wage gains and a strengthening labor market likely supported March spending gains," said Jack Kleinhenz, NRF chief economist. "If gasoline prices can stabilize over the next few months, consumer spending may continue to grow, but it remains to be seen what consumers will cut out of their budgets because of the cost of filling up their tank."

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!