Sales in Home Retail Channels Fall in February
March 11, 2011,
WASHINGTON-While February was an upbeat month for U.S. retailers as a whole, the furniture and home-furnishings sector registered a down month.
Sales at furniture and home-furnishings stores were off 0.8 percent from January and fell four percent from February of last year, totaling $7.4 billion on an adjusted basis, according to figures released this morning by the U.S. Census Bureau. U.S. retailers as a whole posted sales of $387.1 billion, up one percent from January and 8.9 percent from February 2010.
A statement from the National Retail Federation put a positive spin on the overall February results. "February retail sales are in sync with evidence of the expanding economy," said Jack Kleinhenz, NRF's chief economist. Kleinhenz also cautioned that it's still too early to tell what effect the expected spike in gasoline prices this spring will have on consumers.
Other Articles By Author
Von Tobel Cites Brass Textures Among Top Trends
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.