Washington, D.C. – The long winter chill put a damper on consumer spending and retail sales in February. According to data from the National Retail Federation (NRF), excluding automobiles, gasoline stations and restaurants, retail sales declined 0.2% seasonally-adjusted month-to-month, yet were up 3% on an unadjusted year-over-year basis.
Additional findings from NRF’s monthly retail sales analysis found that:
Building material and garden equipment and supplies dealers:
• -2.3% month-to-month
• +3.5% year-over-year
Clothing and clothing accessories stores:
• Flat month-to-month
• +2.4% year-over-year
Electronics and appliance stores:
• -1.2% month-to-month
• +0.3% year-over-year
Furniture and home furnishing stores:
• -0.1% month-to-month
• +5.4% year-over-year
General merchandise stores:
• -1.2% month-to-month
• +0.4% year-over-year
Health and personal care stores:
• -0.7% month-to-month
• +4.4% year-over-year
Online and other non-store retailers:
• +2.2% month-to-month
• +6.1% year-over-year
Sporting goods, hobby, book & music stores:
• +2.3% month-to-month
• +3.3% year-over-year.”
“American consumers saw their shadows, snow mounds and low temp thermometers last month and decided to stay indoors,” NRF chief economist Jack Kleinhenz said. “Extreme winter weather in many parts of the country impacted store sales in February, and as such monthly retail sales came in weaker than expected.”