WASHINGTON – Sales at home furnishings and furniture stores got a lift last month as overall retail sales turned positive after two straight months of declines.
Total retail gains were moderate as consumers continued to be concerned by rising tariffs, according to the CNBC/NRF Retail Monitor, which tracks credit and debit card purchase data compiled by Affinity Solutions.
Sales at home furnishings and furniture stores in March ticked up 0.01% month over month, seasonally adjusted and rose 1.81% year over year, unadjusted.
The Retail Monitor calculation of core retail sales (excluding restaurants, automobile dealers and gasoline stations) was up 0.4% month over month in March and up 5.07% year over year. That compares with a decrease of 0.22% month over month and an increase of 4.11% year over year in February.
Most of the spending took place before President Trump announced sweeping tariff hikes on imports, according to NRF President and CEO Matthew Shay.
“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,” he said. “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.”
A survey conducted for NRF by Prosper Insights & Analytics found 46% 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.
March sales were up across the board on a yearly basis, led by digital products, general merchandise stores, and sporting goods, hobby, music and book stores. Sales were up in five out of nine categories on a monthly basis. Specifics from key sectors beyond the include:
- Digital products were up 0.79% month over month seasonally adjusted and up 27.62% year over year unadjusted.
- General merchandise stores were up 0.48% month over month seasonally adjusted and up 7.62% year over year unadjusted.
- Sporting goods, hobby, music and book stores were unchanged month over month seasonally adjusted but up 6.63% year over year unadjusted.
- Electronics and appliance stores were down 0.29% month over month seasonally adjusted but up 5.94% year over year unadjusted.
- Health and personal care stores were down 0.44% month over month seasonally adjusted but up 5.39% year over year unadjusted.
- Grocery and beverage stores were up 0.65% month over month seasonally adjusted and up 3.05% year over year unadjusted.
- Clothing and accessories stores were up 0.76% month over month seasonally adjusted and up 2.37% year over year unadjusted.
- Building and garden supply stores were down 0.81% month over month seasonally adjusted but up 0.78% year over year unadjusted.
See also:
i
Credit: homeaccentstoday.com
