Retail Sales Jump in May

Improvements in consumer confidence, income and employment encourage consumers to spend
June 15, 2015David Gill

Census BureauWASHINGTON-U.S. retail sales finished May at an adjusted total of $444.9 billion, up 1.2 percent from April and 2.7 percent better than May of last year, according to the U.S. Census Bureau’s monthly retail sales report.

In the channels that sell home furnishings, furniture and home furnishings stores recorded a gain of 0.8 percent month to month and a robust 6.2 percent year over year. General merchandise stores’ sales were up 0.8 percent from April to May but down 0.4 percent from May of last year.

Department stores’ sales (excluding leased departments) gained 0.8 percent month to month but fell 3 percent from last year. Sales at nonstore retailers (which include catalogs and online) edged up 1.4 percent from April and jumped 7.8 percent from last year.

Jack Kleinhenz, chief economist with the National Retail Federation, said favorable behavior in key economic indicators helped boost the overall sales total. “With consumer confidence, employment and income improving, consumers were encouraged to open their wallets in May,” Kleinhenz said.

This also bodes well for retailers looking ahead at the rest of this year, Kleinhenz said. “Latest economic data show improvement in the economy, and we expect stronger sales growth as jobs and incomes pick up,” he said. “Nonetheless, stronger wage growth will be necessary to sustain further gains in retail sales.”

David GillDavid Gill | Contributing Editor

David Gill is a contributing editor to HFN.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    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.