Latest news with #MatthewShay
Yahoo
12-08-2025
- Business
- Yahoo
US July clothing sales surge as consumers seek deals before tariffs
According to the CNBC/NRF Retail Monitor, US clothing and accessories stores experienced a 1.75% rise month over month after seasonal adjustments. The unseasoned figures are even more promising, with a 6.73% year-over-year increase in sales within these categories. NRF president and CEO Matthew Shay said: 'Consumer spending increased in July, driven by successful summer sales events held by many retailers and shoppers continuing to pull purchases forward ahead of tariffs. 'Month-over-month gains were sizeable against a weaker-than-normal June. We may be seeing growing inflationary impacts from tariffs since recent data shows price increases in commodity goods, particularly non-durables. Even with weaker job growth than many expected, consumers still have the ability to spend on household priorities as wages are growing above the rate of inflation.' The Retail Monitor, which is powered by Affinity Solutions, revealed that retail sales (excluding automobiles and gasoline), climbed by 1.45% on a seasonally adjusted basis from the previous month and exhibited robust 5.89% unadjusted growth year over year for July. This performance is set against a 3.19% year-over-year uptick in June. Core retail sales, which further exclude restaurants alongside automobile dealers and gasoline stations, also showed positive momentum with a 1.55% month-over-month increase in July and a significant 5.93% rise on an annual basis. The comprehensive assessment for the initial seven months of the year points to a 4.83% year-over-year surge in total sales, with core sales advancing by 5.07%. The upward trajectory was consistent across most categories, with digital products, sporting goods stores, and general merchandise stores leading the charge. The sporting goods sector, encompassing hobby, music, and bookstores, saw a seasonally adjusted monthly increase of 2.36% and an impressive unadjusted annual growth of 9.99%. Furniture and home furnishing stores also enjoyed gains both monthly (0.98%) and yearly (1.53%). A forecast by the NRF and Hackett Associates indicates a 5.6% downturn in US import cargo volumes at major container ports by the end of 2025 due to new tariffs affecting global trade flows. In addition, a recent study from the National Foreign Trade Council (NFTC) suggests current US trade policies and tariff implementations are impeding growth and investment across several industries, including textiles, thus challenging business competitiveness. "US July clothing sales surge as consumers seek deals before tariffs" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
14-07-2025
- Business
- Yahoo
US clothing sales dip in June 2025 amid tariff concerns
According to the CNBC/NRF Retail Monitor, US clothing and accessory stores sales decreased by 0.22% in June after seasonal adjustments. Without seasonal adjustments, sales in these categories grew 2.71% compared to the same month in the previous year, however, this growth is less than the 3.21% year-on-year increase recorded in May 2025. NRF president and CEO Matthew Shay said: 'This was the first monthly decline since February, and spending was down across almost all sectors. Economic fundamentals haven't been disrupted yet and shoppers still have the ability to spend on priorities, but the economy is gradually slowing and there has been an impact on the psyche of consumers. While passage of the 'Big Beautiful Bill' is clearly supportive of economic growth, unresolved and restrictive trade policies remain a significant headwind.' The Retail Monitor, which is powered by Affinity Solutions, also shows that overall retail sales, excluding automobiles and gasoline, dropped by 0.33% seasonally adjusted month over month but increased by 3.19% unadjusted year over year in June this year. This contrasts with the increases of 0.49% month over month and 4.44% year over year in May. Core retail sales, which includes categories except restaurants, automobile dealers and gasoline stations, fell by 0.32% month over month in June but rose by 3.36% year over year. These figures compare with increases of 0.23% month over month and 4.2% year over year in May. For the first half of the year, total sales were up by 4.66% year over year, while core sales increased by 4.93%. The monthly declines were the first since February when both total and core sales saw a decrease of 0.22% from January. On an annual basis, June sales increased in seven out of nine categories, led by digital products, sporting goods stores, and health and personal care stores; however, on a monthly basis, sales were down in all but one category. NRF chief economist Jack Kleinhenz recently cautioned that US tariff disputes and policy changes are causing 'anxiety and confusion,' contributing to economic uncertainty. Meanwhile, US President Donald Trump has 'threatened' fresh tariffs of 30% on imports from Mexico and the EU, starting 1 August 2025. Trump justified these measures on social media by pointing to drug trafficking issues with Mexico and longstanding trade imbalances with the EU. This announcement followed earlier warnings issued by Trump to more than 20 countries regarding potential tariffs ranging from 25% to 40%, set to take effect from August unless new bilateral trade agreements are reached. The countries affected include Japan, South Korea, and South Africa. "US clothing sales dip in June 2025 amid tariff concerns" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fibre2Fashion
14-07-2025
- Business
- Fibre2Fashion
US retail sales dip in June amid policy uncertainty: NRF
US retail sales declined in June as consumer concerns over government policies weighed on spending, according to the CNBC/NRF Retail Monitor released by the National Retail Federation. US retail sales slipped in June, with total sales down 0.33 per cent month over month but up 3.19 per cent year over year, as consumers grew cautious over government policies. Core sales also declined 0.32 per cent MoM. NRF's Matthew Shay cited uncertainty over tariffs and trade as key concerns, though overall sales for the first half of 2025 remain strong. Total retail sales, excluding automobiles and gasoline, fell 0.33 per cent month over month (MoM) on a seasonally adjusted basis but rose 3.19 per cent year over year (YoY). This compares to May ' s stronger performance, which showed a 0.49 per cent monthly increase and a 4.44 per cent annual rise. Core retail sales, which exclude restaurants in addition to autos and fuel, dropped 0.32 per cent MoM in June but remained 3.36 per cent higher than a year earlier. In May, core sales rose 0.23 per cent from the previous month and 4.2 per cent from the prior year. The June pullback marked the first monthly decline in both total and core sales since February, when both metrics fell by 0.22 per cent. 'June's numbers indicate that prolonged uncertainty surrounding the economy, tariffs and trade policy could be pushing consumers to adopt a 'wait-and-see' approach with their household budgets. This was the first monthly decline since February, and spending was down across almost all sectors,' said NRF president and CEO Matthew Shay. Despite the monthly downturn, sales for the first six months of 2025 remained solid. Total sales rose 4.66 per cent and core sales were up 4.93 per cent YoY. Category-wise, clothing and accessories sales declined 0.22 per cent MoM but rose 2.71 per cent annually. General merchandise stores saw a 0.15 per cent drop from May but recorded a 3.18 per cent gain over the year. Furniture and home furnishings experienced the weakest results, falling 1.04 per cent from the previous month and 1.14 per cent from the previous year. 'This was the first monthly decline since February, and spending was down across almost all sectors. Economic fundamentals haven't been disrupted yet and shoppers still have the ability to spend on priorities, but the economy is gradually slowing and there has been an impact on the psyche of consumers. While passage of the 'Big Beautiful Bill' is clearly supportive of economic growth, unresolved and restrictive trade policies remain a significant headwind,' Shay added. Fibre2Fashion News Desk (HU)
Yahoo
11-07-2025
- Business
- Yahoo
Retail Sales Fell in June for the First Time in Months, National Retail Federation Says
The National Retail Federation reported Friday that core retail spending fell in June for the first time since February. The trade group thinks consumers are adopting a cautious attitude because of uncertainty about tariffs, trade policy, and the economy. But import taxes have yet to make a significant impact on many prices, Oppenheimer analysts said, adding that increases remain "forthcoming."Retail sales fell last month as consumers worried about tariffs, according to a new report, even as some analysts say widespread price increases are yet to hit stores. Core retail spending, which excludes restaurant, car, and gasoline bills, fell 0.3% from May to June, according to the National Retail Federation, but rose 3.4% year-over-year. That marked the first month-over-month decline since February, according to the trade group. Americans may be taking a 'wait-and-see approach' because they're uncertain about how tariffs and trade policy will affect the economy, NRF President Matthew Shay said. Additional insight is expected Thursday, when the government is slated to release June retail figures. 'Economic fundamentals haven't been disrupted yet and shoppers still have the ability to spend on priorities, but the economy is gradually slowing and there has been an impact on the psyche of consumers,' Shay said. Spending fell month-over-month in all but one category: digital books, games, and other products, according to the trade group. Oppenheimer, which has been monitoring a basket of items seen as likely to be subject to tariffs since April, has seen 'limited" shifts in discretionary retail goods pricing, the firm's analysts wrote Friday. Oppenheimer in a new research note said at 13 of 19 companies it covered, only a few prices moved higher, and many were flat or even fell. Still, companies see price increases as a 'key tariff-mitigation measure,' and changes are "forthcoming," the note said. Read the original article on Investopedia
Yahoo
16-06-2025
- Business
- Yahoo
US clothing sales climb in May despite less pre-tariff stockpiling
The CNBC/NRF Retail Monitor data revealed sales in US clothing and accessory stores grew by 0.67% in May 2025, after adjusting for seasonal variations. This sector experienced a 3.21% increase over the same month last year, without seasonal adjustments, though this is a decrease from the 5.14% year-on-year growth observed in April 2025. NRF president and CEO Matthew Shay said: 'The data for May indicates that the pull-forward in consumer demand ahead of tariffs is likely dissipating. While momentum remains, the nature of consumer spending is shifting as economic uncertainty increases. Consumer fundamentals haven't been damaged yet, and a slowing-but-still-growing job market is supporting household priorities ahead of any meaningful price increases in the coming months.' The Retail Monitor, which is powered by Affinity Solutions shows that overall retail sales, with the exclusion of automobiles and gasoline, increased by 0.49% after seasonal adjustment from the previous month and saw a 4.44% unadjusted increase compared to last year's figures for May. These figures are slightly down from April's increases of 0.72% month over month and 6.76% year over year. Core retail sales, which exclude restaurants as well as automobile dealers and gasoline stations, rose by 0.23% from the previous month in May and saw a yearly increase of 4.2%. This is contrasted with April's higher increases of 0.9% month over month and 7.11% year over year. For the first five months of the year, total sales have risen by 4.95% compared to the previous year, while core sales have seen a 5.24% increase. On an annual basis, May sales increased in seven out of nine categories, with digital products, sporting goods stores, and general merchandise stores leading the growth. On a monthly basis, six categories reported increases. Sales in sporting goods, hobby, music, and bookstores saw a seasonally adjusted monthly rise of 0.42% and an unadjusted annual increase of 8.21%. Conversely, furniture and home furnishings stores experienced a 0.24% decrease on a monthly basis and declined 0.1% annually, once seasonally adjusted. The latest Global Port Tracker released last month by the NRF and Hackett Associates revealed that US container ports are expected to see heightened cargo imports in upcoming months due to retailers planning to take advantage of a temporary 90-day reduction on tariffs for goods imported from China. "US clothing sales climb in May despite less pre-tariff stockpiling" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
