NRF: Core retail sales inch up in April as consumers remain ‘engaged’

Retail sales rebounded in April after falling in March not all sectors enjoyed gains. 

Retail sales in April rose 0.6% from March, according to the National Retail Federation,  whose calculation excludes automobile dealers, gasoline stations and restaurants to focus on core retail.  Sales were up 2% year- over-year.  (The numbers are not adjusted for inflation.) 

In March, sales were down 0.7% month-over-month. NRF’s numbers were up 3.7% unadjusted year-over-year on a three-month moving average as of April.

“Consumers remained engaged in April,” NRF chief economist Jack Kleinhenz said. “Shoppers are being selective and price-sensitive, but we continue to expect that spending will see modest gains through the course of the year. Year-over-year growth slowed, which was partly because of upward revisions to last year’s data but also an early indication that credit conditions are tightening and excess savings are shrinking.”

The U.S. Census Bureau reported that overall retail sales in April were up 0.4% from March and up 1.6% year over year.  Excluding auto-related figures, sales increased 0.4%, which was in line with analysts expectations.

April sales rose in four our of the nine retail categories on a monthly basis, led by  online, general merchandise stores and health and personal care stores. Sporting goods stores posted a 3.3% decline, while furniture and home furnishings saw a 0.7% drop.

Specifics from the key sectors are below.

•Online and other non-store sales were up 1.2% month over month seasonally adjusted and up 6.4% unadjusted year over year.

•Health and personal care stores were up 0.9% month over month seasonally adjusted and up 5.8% unadjusted year over year.

•General merchandise stores were up 0.9% month over month seasonally adjusted and up 4.1% unadjusted year over year.

•Grocery and beverage stores were down 0.2% month over month seasonally adjusted but up 2.9% unadjusted year over year.

•Clothing and clothing accessory stores were down 0.3% month over month seasonally adjusted and down 4.1% unadjusted year over year.

•Building materials and garden supply stores were up 0.5% month over month seasonally adjusted but down 5.7% unadjusted year over year.

•Electronics and appliance stores were down 0.5% month over month seasonally adjusted and down 8.2% unadjusted year over year.

•Furniture and home furnishings stores were down 0.7% month over month seasonally adjusted and down 8.8% unadjusted year over year.

•Sporting goods stores were down 3.3% month over month seasonally adjusted and down 9.1% unadjusted year over year.