tiptrot.com
tiptrot.com December 11, 2017


US retail sales rebounded in April after sluggish winter

13 May 2017, 01:16 | Cedric Leonard

US retail sales rebounded in April after sluggish winter

US retail sales rebounded in April after sluggish winter

Sales in the non-store retail sector, which includes pure-play e-commerce, increased by 12% in April to $51.4 billion, the thirteenth straight month of double-digit increases.

On a 12-month smoothed basis, retail sales rose by 4.1%, their smallest increase in eight months.

April sales for furniture and home furnishings retailers jumped 3.8% from the same month a year ago, lagging behind the 4.5% gain for the broader retail sector.

Americans stepped up their spending at auto dealers, hardware stores and e-commerce outlets as retail sales rebounded from two sluggish months. April retail sales, it explained, were driven by online and other non-store sellers, electronics stores, and building materials and supplies.

Department stores, a sub-category of general merchandise stores, continued to lose the most ground of any subcategory, as April sales dipped 3.7% from April a year ago, but sales were up 0.2% from the month before.


Closely watched core retail sales, which exclude autos, gasoline, building materials and food service, edged up by 0.2% in April after climbing by 0.7% in March. Gasoline stations sales were up 12.3% from April 2016, while Nonstore Retailers were up 11.9% from previous year. Gauges of consumer and business confidence remain high following last year's presidential election; the University of Michigan's index of consumer sentiment was up 9% in April compared with a year earlier.

Retail trade sales increased 0.4% from March and are up 4.5% from a year ago.

While retail is in a state of flux, the source of those difficulties is not mainly due to a major slowdown in consumer spending, Saunders said. On Wednesday Macy's reported sharply lower sales and profits, causing a collapse in its share price. Over the past year, nonstore sales rose 11.9% and department-store sales fell 3.7%.

By many accounts, retail sales picked up in the later part of the first quarter of 2017; J.C. Penney CEO Marvin Ellison made a note of that in his statement on the company's report Friday morning.



Other News

Trending Now

We may not see oil at $100 again
USA supplies declined by 5.25 million barrels to 522.5 million last week, Energy Information Administration data showed Wednesday. Nymex benchmark gasoline contract for June rose 0.2% to $1.5657 a gallon, while June diesel was 0.1% higher at $1.4916.

Jose Mourinho confirms Manchester United are giving up on the Premier League
They had a couple of chances in the first half but so did we and ours were the big chances. Now Mourinho insists the path to the top-four is closed. "We couldn't afford to lose".

Tesla's Highly Anticipated Solar Roof Tiles Hit The Market
Taking all that into account reduces the cost of a new roof to close to that of a conventional roof, assuming it lasts 30 years. Thus they enable homeowners to harness energy from the sun all day without having to install any additional panels.

Fantasy Baseball: Milwaukee Brewers outfielder Keon Broxton starting to heat up
Starting pitcher Chase Anderson continued his solid campaign, allowing two earned runs and striking out four in 4 2/3 innings. Hitting's becoming easier _ I'm not saying it's easy _ but it's definitely becoming easier than what it was.

Matt Harvey Apologizes, Admits To Being Out 'Past Curfew'
He even contacted the team to say he would be absent. "He certainly remembers it", Mets manager Terry Collins said of Familia. NY also claimed lefty Tommy Milone off waivers from Milwaukee — he was 1-0 with one save and a 6.43 ERA.

Sen. Manchin Says Trump-Backed Healthcare Bill Hurts W.Va.
Ron Johnson (R-Wisc.) said. "By the way, we're a long ways from having a product completed", Rounds said, one week after the U.S. Along with trying to bully Republicans into supporting the new version, according to the New York Times Trump is lying about it.

Where is Justice Karnan?
Meanwhile, Justice Karnan on a personal visit to Chennai on Tuesday, had a "press meet" at the State Guest House in Chepauk. A group of lawyers staged a protest in front of the guest house claiming that Justice Karnan was being victimized.

Great White Sharks Spotted Off California Coast Featured
With more and more shark sightings off the Long Beach coast, beachgoers are being warned to enter the water at their own risk. A woman, 33, was attacked by a shark as she swam in the Pacific Ocean near San Onofre State Beach.

May admits energy bills could still rise despite cap pledge
Though the cap does equal a freeze, the policy announcement and reasons behind it - the UK's soaring energy prices - are the same. The proposed Tory cap would be introduced on standard variable tariffs, which around 70% of households are on.

The biggest announcements from Microsoft's Build event
Story Remix takes your media - photos and video from your smartphone, for example - and turns them into "instant video stories". That's the placeholder name for Microsoft's next big Windows 10 update, which as you might guess, will roll out this fall.