January retail sales up 4%
Building on the momentum of a strong holiday shopping season, gift card redemptions and warm weather, retailers’ January sales saw solid growth across the board. According to the National Retail Federation, January retail industry sales (excluding automobiles, gas stations and restaurants) increased 0.9% seasonally adjusted from December and 4.0% unadjusted YOY.
January retail sales data from the Department of Commerce, showed total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 5.6% unadjusted YOY and 0.4% seasonally adjusted month-to-month.
Likely due to January’s unseasonal warmer weather, sales in sporting goods, hobby, book and music stores increased 1.1% seasonally month-to-month and 3.5% unadjusted YOY. General merchandise stores’ sales increased 2.0% seasonally-adjusted over December and 4.7% unadjusted YOY.
Many consumers in January also seemed to take advantage of the warm temperatures to work on their home and gardens. Sales at building material, garden equipment and supplies dealers increased 0.2% seasonally adjusted from the previous month and a strong 10.5% unadjusted YOY.
Sales at furniture and home furnishing stores decreased 0.2% seasonally adjusted from December and increased 7.9% unadjusted YOY. Electronics and appliance stores’ sales increased 0.5% seasonally adjusted month-to-month and decreased 1.1% unadjusted YOY and sales at clothing and clothing accessory stores’ sales were flat over the previous month and increased 3.4% unadjusted over last year.
Filed Under Legacy