• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

July sales at US clothing, accessories stores up 5.27% YoY: NRF

12 Aug '24
2 min read
July sales at US clothing, accessories stores up 5.27% YoY: NRF
Pic: Adobe Stock

Insights

  • Total US retail sales, excluding automobiles and gasoline, were up by 0.74 per cent seasonally adjusted month over month (MoM) and up by 0.92 per cent unadjusted YoY in July, according to the CNBC-NRF retail monitor.
  • Sales at clothing and accessories stores were up 0.57 per cent MoM seasonally adjusted and up by 5.27 per cent YoY unadjusted in July.
US retail sales continued to grow in July this year, with sales being up year on year (YoY) in six out of nine retail categories, led by online sales, health and personal care stores and clothing and accessories stores, according to the retail monitor of the National Retail Federation (NRF) and CNBC.

Total retail sales, excluding automobiles and gasoline, were up by 0.74 per cent seasonally adjusted month over month (MoM) and up by 0.92 per cent unadjusted year on year (YoY) in July, according to the monitor. That compared with increases of 0.47 per cent MoM and 3.42 per cent YoY in June.

Sales at clothing and accessories stores were up 0.57 per cent MoM seasonally adjusted and up by 5.27 per cent YoY unadjusted in July. Furniture and home furnishings stores were up by 0.32 per cent MoM seasonally adjusted but down 4.79 per cent YoY unadjusted in the month.

The calculation of core retail sales (excluding restaurants in addition to automobiles and gasoline) was up by 0.95 per cent MoM in July and up by 1.69 per cent YoY. That compared with increases of 0.3 per cent MoM and 3.07 per cent YoY in June.

Total sales were up by 2.1 per cent YoY for the first seven months of the year and core sales were up by 2.4 per cent YoY.

“July’s data reflects what we are seeing across the economy, that while consumers remain cautious, they are still spending on essentials when they find value,” NRF president and chief executive officer EO Matthew Shay said in a release.

“Labour market trends have softened recently and interest rates remain high, but economic fundamentals are intact and inflation has fallen to nearly zero for goods even though prices for services are elevated. July sales were likely bolstered by back-to-school and back-to-college spending, which was reflected in gains for retailers selling everything from clothing and crayons to computers and dorm room furnishings,” he noted.

Online and other non-store sales were up by 0.82 per cent MoM seasonally adjusted and up by 18.45 per cent YoY unadjusted in July.

Fibre2Fashion News Desk (DS)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search