The U.S. Census Bureau released its advanced monthly retail trade report for May 2023, which showed sales totaled $686.6 billion, up 0.3% from the previous month, and up 1.6% from May 2022.
Store formats are shrinking fast—from Express Edit, Market by Macy’s and Bloomingdale’s Bloomie’s concept, to diminutive offerings by the likes of Kohl’s, Ikea, Publix, Barnes & Noble and Sprouts.