Latest news with #MatthewShay
Fibre2Fashion
13-05-2025
- Business
- Fibre2Fashion
US retail sales jump in April, shoppers rush to beat tariff price hike
US retail sales rose in April as consumers advanced their purchases to avoid anticipated price hikes linked to upcoming tariffs, according to the latest CNBC/National Retail Federation (NRF) Retail Monitor data. Clothing and accessories store sales rose by 1.14 per cent month over month (MoM) and increased by 5.14 per cent year over year (YoY), unadjusted. Alongside tariff-related buying, the YoY comparison was positively influenced by the timing of Easter, which fell in April this year instead of March as it did in 2024, the NRF said in a media release. US retail sales rose in April as consumers advanced purchases to avoid expected tariff-driven price hikes. Total sales grew 0.72 per cent MoM and 6.76 per cent YoY, while core sales rose 0.9 per cent MoM and 7.11 per cent YoY. Clothing led gains, rising 1.14 per cent MoM. NRF cited strong household finances and pre-tariff buying as key drivers. Total retail sales, excluding automobiles and gasoline, increased by 0.72 per cent MoM on a seasonally adjusted basis and by 6.76 per cent YoY unadjusted. This marked a stronger performance than in March, when sales rose by 0.6 per cent MoM and 4.75 per cent YoY. Core retail sales, which exclude restaurants, automobile dealers, and gasoline stations, climbed by 0.9 per cent MoM in April and 7.11 per cent YoY. These figures also improved from March's gains of 0.4 per cent MoM and 5.07 per cent YoY. For the first four months of 2025, total sales rose by 5.08 per cent YoY, while core sales grew by 5.5 per cent. Additionally, category-wise, furniture and home furnishings sales increased by 0.86 per cent MoM and 0.09 per cent YoY; general merchandise stores were flat on a monthly basis but recorded a 6.67 per cent YoY gain; and digital product sales were up 0.62 per cent MoM on a seasonally adjusted basis and increased by 27.67 per cent YoY, unadjusted. 'Despite declines in confidence caused by the economic uncertainty that has come with tariffs, consumer fundamentals remain intact, supported by low unemployment, slower-but-steady income growth and solid household finances. Consumers maintain their ability to spend and have strong reasons to spend now before tariffs can drive up prices or cause shortages on store shelves,' said NRF president and CEO Matthew Shay. Fibre2Fashion News Desk (HU)
Yahoo
09-05-2025
- Business
- Yahoo
Tariff price hike fears triggered US clothing sales spike in April
The US clothing and accessories category also saw a significant 5.14% rise in April compared to the same period last year without adjustments. The CNBC/NRF Retail Monitor which provided the data, indicated that the timing of Easter likely contributed to the favourable year-over-year spending comparisons. NRF president and CEO Matthew Shay stated: 'Spending rose again in April, driven largely by consumers continuing to pull purchases forward to stay ahead of tariffs that will inevitably lead to higher prices. 'Despite declines in confidence caused by the economic uncertainty that has come with tariffs, consumer fundamentals remain intact, supported by low unemployment, slower-but-steady income growth and solid household finances. Consumers maintain their ability to spend and have strong reasons to spend now before tariffs can drive up prices or cause shortages on store shelves.' The report, powered by Affinity Solutions and released by the NRF, revealed that total retail sales excluding automobiles and gasoline surged by 0.72% on a seasonally adjusted basis month over month and soared by 6.76% without adjustments year over year in April. This performance outpaced the growth observed in March, which saw a 0.6% monthly increase and a 4.75% annual rise. Core retail sales, which exclude automobile dealerships, gasoline stations, and restaurants, climbed by 0.9% from March to April and exhibited a robust 7.11% growth compared to April of the previous year. This is an uptick from the 0.4% monthly and 5.07% yearly increases recorded in March. Overall sales for the first four months of the year increased by 5.08% compared to the same period last year, while core sales rose by 5.5%. April's sales data showed an upward trend in eight out of nine categories on an annual basis, with significant gains noted in digital products, electronics and appliance stores, as well as grocery and beverage stores. Similarly, eight out of nine categories experienced monthly sales growth. Health and personal care outlets experienced a positive trend with a 1.43% month-over-month increase after seasonal adjustments, while general merchandise stores faced a slight dip of 0.02% from the previous month. Meanwhile, furniture and home furnishings stores enjoyed modest growth with sales edging up by 0.86% on a month-over-month basis. Earlier this month (May), digital wholesale platform Joor collected insights from over 400 fashion brands and retailers regarding tariff impacts and said global fashion entities are bracing for an average price increase of 20% as a response to new US trade tariffs. "Tariff price hike fears triggered US clothing sales spike in April" 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. Sign in to access your portfolio
Yahoo
09-05-2025
- Business
- Yahoo
Tariff price hike fears triggered US clothing sales spike in April
The US clothing and accessories category also saw a significant 5.14% rise in April compared to the same period last year without adjustments. The CNBC/NRF Retail Monitor which provided the data, indicated that the timing of Easter likely contributed to the favourable year-over-year spending comparisons. NRF president and CEO Matthew Shay stated: 'Spending rose again in April, driven largely by consumers continuing to pull purchases forward to stay ahead of tariffs that will inevitably lead to higher prices. 'Despite declines in confidence caused by the economic uncertainty that has come with tariffs, consumer fundamentals remain intact, supported by low unemployment, slower-but-steady income growth and solid household finances. Consumers maintain their ability to spend and have strong reasons to spend now before tariffs can drive up prices or cause shortages on store shelves.' The report, powered by Affinity Solutions and released by the NRF, revealed that total retail sales excluding automobiles and gasoline surged by 0.72% on a seasonally adjusted basis month over month and soared by 6.76% without adjustments year over year in April. This performance outpaced the growth observed in March, which saw a 0.6% monthly increase and a 4.75% annual rise. Core retail sales, which exclude automobile dealerships, gasoline stations, and restaurants, climbed by 0.9% from March to April and exhibited a robust 7.11% growth compared to April of the previous year. This is an uptick from the 0.4% monthly and 5.07% yearly increases recorded in March. Overall sales for the first four months of the year increased by 5.08% compared to the same period last year, while core sales rose by 5.5%. April's sales data showed an upward trend in eight out of nine categories on an annual basis, with significant gains noted in digital products, electronics and appliance stores, as well as grocery and beverage stores. Similarly, eight out of nine categories experienced monthly sales growth. Health and personal care outlets experienced a positive trend with a 1.43% month-over-month increase after seasonal adjustments, while general merchandise stores faced a slight dip of 0.02% from the previous month. Meanwhile, furniture and home furnishings stores enjoyed modest growth with sales edging up by 0.86% on a month-over-month basis. Earlier this month (May), digital wholesale platform Joor collected insights from over 400 fashion brands and retailers regarding tariff impacts and said global fashion entities are bracing for an average price increase of 20% as a response to new US trade tariffs. "Tariff price hike fears triggered US clothing sales spike in April" 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
Yahoo
09-05-2025
- Business
- Yahoo
US retail sales rise in April as consumers rush to avoid tariff hikes
Retail sales in April showed a marked increase, with consumers advancing their purchases to avoid higher prices expected to come with tariffs, according to the latest data from the CNBC/NRF Retail Monitor, powered by Affinity Solutions. This surge in spending comes despite economic uncertainty driven by tariff-related concerns. Matthew Shay, President and CEO of the National Retail Federation (NRF), stated that spending continued to rise in April, with many consumers accelerating their buying behaviour in anticipation of higher prices. The NRF highlighted that despite some dip in consumer confidence, the fundamentals for consumer spending remained strong, underpinned by low unemployment rates, steady income growth, and solid household finances. Consumers are evidently motivated to make purchases now, fearing potential price hikes or shortages when tariffs eventually take effect. In terms of total retail sales, which exclude automobiles and gasoline, figures rose 0.72% seasonally adjusted on a month-over-month basis and 6.76% unadjusted year-over-year in April. This follows a more modest increase in March of 0.6% month-over-month and 4.75% year-over-year. Core retail sales, which exclude restaurants, automobile dealers, and gasoline stations, grew 0.9% month over month and 7.11% year over year in April. Sales growth in April was evident across most retail sectors, with notable increases in digital products, electronics, and grocery stores. The digital products category saw a significant rise, with sales up 0.62% month over month and an impressive 27.67% year over year. Electronics and appliance stores experienced a 2.8% monthly increase and a 10.5% year-on-year rise. Meanwhile, grocery and beverage stores saw a 0.59% monthly increase and a 9.51% rise compared to April 2024. Sporting goods, hobby, music, and bookstores also enjoyed solid growth, increasing by 0.81% month over month and 9.19% year over year. Health and personal care stores recorded a 1.43% rise month over month and an 8.51% increase year over year. A slight decline was observed in some categories, such as general merchandise stores, which were down by 0.02% month over month, although they still saw a 6.67% rise year over year. In contrast, building and garden supply stores experienced a 2.77% increase month over month but a 2.1% decrease year over year. While April's retail sales figures are encouraging, analysts suggest that ongoing tariff concerns could continue to shape consumer behaviour in the coming months. Many consumers appear to be adjusting their spending patterns to stay ahead of potential price increases, a trend that may persist as the impact of tariffs becomes clearer. Retailers will need to navigate this shifting landscape as economic uncertainty lingers and consumer priorities evolve in response to changing costs. Navigate the shifting tariff landscape with real-time data and market-leading analysis. Request a free demo for GlobalData's Strategic Intelligence . "US retail sales rise in April as consumers rush to avoid tariff hikes" was originally created and published by Retail Insight Network, 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
15-04-2025
- Business
- Yahoo
Consumer Spending Rebounds in March, But Will It Last?
U.S. retail sales grew in March after two straight months of declines, in an apparent stocking up by Americans to beat looming tariff-related price hikes. Total retail sales, excluding automobiles and gasoline, in March were up 0.6 percent seasonally adjusted from February, according to the CNBC/NRF Retail Monitor. That compares to month-over-month sales decreases of 0.22 percent in February and 1.07 percent in January. More from WWD Financial Stress Hits Americans Hard, Driving Focus on Literacy and Affects on Health Tariffs, Inflation and Rising Debt: The Perfect Storm Pressuring U.S. Consumers and Small Businesses Inflation and Shifting Consumer Trends Reshape U.S. Office Supplies Market in 2024 The Retail Monitor also reported March retail sales rose 4.75 percent unadjusted from March 2024, and that for the first three months of 2025 total sales were up 4.52 percent from the same period a year ago. Core sales, which excludes restaurants, automobile deals and gas stations, were up 4.96 percent for the first three months of this year from the same period in 2024. But the recent retail bounce back is not likely to last for long, with economists and retail analysts raising the possibility of a recession this year, amid tanking consumer sentiment and the spectre of tariffs. There is also confusion over what tariffs implemented by the Trump administration will stick or be rescinded, furthering anxiety among the populace. As consumer sentiment further drops, Americans will be more inclined to squirrel away savings rather than spend. The University of Michigan's closely watched monthly surveys of hundreds of consumers have shown sentiment nosediving this year. The National Retail Federation was hardly jumping for joy over the March bounce back in sales. 'Retail sales increased in March but only moderately, and the spending came before the president's 'Liberation Day' tariff announcement,' NRF president and chief executive officer Matthew Shay said in a statement. 'The pullback we've seen the past few months comes despite strong economic fundamentals. A major factor appears to be driven by the uncertainty caused by tariffs. March's increase is partly the result of stocking up to get ahead of tariffs. With the economic outlook unclear and the situation fluid, consumer sentiment is weakening, and many consumers are shifting disposable income into savings.' U.S. President Donald Trump announced tariffs on China, Canada and Mexico in February and a minimum 10 percent tariff on all U.S trading partners on April 2 along with sweeping 'reciprocal' tariffs on dozens of countries, which have been suspended for 90 days. Additional tariffs on China have resulted in a trade war between the two countries. Before the April 2 'Liberation Day' tariff announcement, a survey conducted for NRF by Prosper Insights & Analytics found 46 percent of consumers said they were stocking up on household appliances, clothing and other items in early March because they were worried they would become more expensive because of tariffs. Getting granular, the Retail Monitor reported clothing and accessories stores were up 0.76 percent month-over-month seasonally adjusted, and up 2.37 percent year-over-year unadjusted, while digital products were up 0.79 percent month-over-month seasonally adjusted and up 27.62 percent, year-over-year unadjusted. Health and personal care stores were down 0.44 percent month-over-month seasonally adjusted but up 5.39 percent year-over-year unadjusted. General merchandise stores were up 0.48 percent month-over-month seasonally adjusted and up 7.62 percent year-over-year unadjusted. In addition: Sporting goods, hobby, music and book stores were unchanged month-over-month seasonally adjusted but up 6.63 percent year-over-year unadjusted. Electronics and appliance stores were down 0.29 percent month-over-month seasonally adjusted but up 5.94 percent year-over-year unadjusted. Grocery and beverage stores were up 0.65 percent month-over-month seasonally adjusted and up 3.05 percent year over year unadjusted. The Retail Monitor uses credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns
