NRF: Mixed Bag for October Retail
November 17, 2009October retail sales excluding automobiles, gas stations, and restaurants were flat compared with September and fell 1.3 percent year-over-year, the National Retail Federation reported Monday.
Performance varied among categories, and furniture is among those still hurting.
"Though the October numbers show some signs of optimism for retailers, the industry is still not out of the woods," said NRF Chief Economist Rosalind Wells. "While categories like apparel, sporting goods, books, music and personal care fared well, housing-related categories such as furniture and home improvement continued to struggle."
October retail sales released today by the U.S. Commerce Department retail sales figures, which include autos, gasoline stations and restaurants, increased 1.4 percent seasonally adjusted from September, but fell 1.7 percent unadjusted year-over-year.
Furniture and home furnishing stores were down 0.8 percent seasonally adjusted for the month-to-month and down 7.6 year-over-year. Building material, garden equipment and supplies stores fell even further, decreasing 2.4 percent from September and 16.6 percent year-over-year.
Clothing and clothing accessories stores rose 0.4 percent seasonally adjusted from the previous month and 3.6 percent unadjusted year-over-year. Health and personal care stores were up 0.5 percent seasonally adjusted from the previous month and an increase of 3.8 percent unadjusted from October 2008
NRF continues to forecast a holiday sales decline of 1 percent. The holiday season is defined as retail industry sales in November and December.
