Sales at US clothing-accessories stores up 8.26% YoY in Aug: NRF

The rise was 1.45 per cent MoM and 5.89 per cent YoY in July.

Core retail sales (excluding restaurants in addition to automobile dealers and gasoline stations) were up by 0.26 per cent MoM and 6.67 per cent YoY in August. That compared with increases of 1.55 per cent MoM and 5.93 per cent YoY in July.

Total sales were up by 5.08 per cent YoY for the first eight months this year that saw core sales rising by 5.27 per cent YoY.

Sales at clothing and accessories stores were up by 0.2 per cent MoM seasonally adjusted and up by 8.26 per cent YoY unadjusted in the month.

Sales at general merchandise stores were up by 0.39 per cent MoM seasonally adjusted and up by 7.63 per cent YoY unadjusted.

Sales at furniture and home furnishings stores were up 0.23 per cent MoM seasonally adjusted and up by 3.07 per cent YoY unadjusted.

“Spending was supported by lower fuel costs, tax-free holidays and consumers buying products before tariff increases take effect. We may be seeing inflationary impacts from tariffs since recent data shows price increases in commodity goods,” NRF president and chief executive officer Matthew Shay said in a release.

“Even with weaker job growth than many expected, employment remains stable and at a high level, giving consumers the ability to spend thoughtfully on household priorities. Nonetheless, consumers are preserving spending power by cutting back on less-essential services,” he added.

ALCHEMPro News Desk (DS)