NRF: Consumers still skittish

Washington – Consumer spending at retail fell 5.0% last month compared to July 2008 and slipped 0.6% from June, the National Retail Federation reported today. NRF’s numbers exclude sale at gas stations, restaurants and automobile dealers.

The U.S. Commerce Department – whose retail sales include non-general merchandise categories such as autos, gasoline stations and restaurants –today reported a 0.1% decline in sales from June to July, with a 7.9% drop in sales compared to July 2008

“Many families postponed the bulk of their back-to-school shopping this year, possibly waiting to take advantage of their state sales tax holiday or hoping for additional discounts,” said Rosalind Wells, NRF’s chief economist. “Hopefully, retailers’ aggressive promotions and reduced inventory levels will make for a better August and shield retailers from a disappointing season.”

Sales at general merchandise stores fell 0.8% adjusted from the previous month and declined  3.4% unadjusted over last year.  

Home & Textiles Today Staff | News & Commentary

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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!