News

NRF: Retail sales in April 'disappointed'

Stephen E. Schatz, with the National Retail Federation, is reporting that an earlier-than-normal Easter holiday did not play a major factor in consumer spending and retail sales in April.

May 15, 2015

Stephen E. Schatz with the National Retail Federation is reporting that an earlier-than-normal Easter holiday did not play a major factor in consumer spending and retail sales in April. Retail sales in April, excluding autos, gas and restaurants, were essentially unchanged from March but up 1.9 percent on a year-over-year basis.

"Retail sales disappointed in April," NRF Chief Economist Jack Kleinhenz said in a release. "Sales were virtually unchanged, following an upwardly revised gain in March. April retail sales, similar to March, were affected positively and negatively by the Easter-calendar shift. It appears that the 'Easter effect' was muted. Taken together, consumer spending on a year-over-year basis was anemic.

"It looks like there were more sales conducted at much lower prices. Consumers took advantage of the low cost of goods and merchandise. Consequently, flat retail sales numbers may not truly show the health or strength of consumer spending. Consumers are the key driver of the economy and have the ability to spend more. Employment gains, wage and salary increases, greater savings and low gas prices will all factor into greater consumer spending the rest of the year. The jury is still out."

Additional findings from NRF's monthly retail sales analysis found that:

Building material and garden equipment and supplies dealers:

• +0.3 percent month-to-month
• +3.9 percent year-over-year

Clothing and clothing accessories stores:

• +0.2 percent month-to-month
• +0.7 percent year-over-year

Electronics and appliance stores:

• -0.4 percent month-to-month
• -3.9 percent year-over-year

Furniture and home furnishing stores:

• -0.9 percent month-to-month
• +1.4 percent year-over-year

General merchandise stores:

• -0.5 percent month-to-month
• -1.5 percent year-over-year

Health and personal care stores:

• +0.8 percent month-to-month
• +4.6 percent year-over-year

Online and other nonstore retailers:

• +0.8 percent month-to-month
• +6.1 percent year-over-year

Sporting goods, hobby, book & music stores:

• +0.8 percent month-to-month
• +4.2 percent year-over-year