Subscribe to our free, weekly email newsletter!


Nation Retail Federation issues promising report on consumer spending

October retail sales released today by the U.S. Commerce Department show total retail sales increased 1.2 percent seasonally adjusted over September and 5.4 percent unadjusted year-over-year.
By Patrick Burnson, Executive Editor
November 16, 2010

With four straight months of sales gains under their belts and with the holiday season fast approaching, retailers have reason for optimism as consumer spending finally shows momentum.

According to the National Retail Federation, October retail industry sales (which exclude automobiles, gas stations, and restaurants) increased 0.3 percent seasonally adjusted over September and 2.6 percent unadjusted over last year.

“This continued momentum is good news for the industry, especially with Black Friday and Cyber Monday quickly approaching,” said NRF President and CEO Matthew Shay. “While there is no question that consumer demand has improved, there are still questions about consumer confidence tied to high unemployment. We need to see improvement in key economic indicators to sustain any long-term growth.”

October retail sales released today by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 1.2 percent seasonally adjusted over September and 5.4 percent unadjusted year-over-year.

“While spending throughout the industry was varied, it appears the fourth quarter has gotten off to a solid start,” said NRF Chief Economist Jack Kleinhenz. “October’s results are a clear indicator that the economy and consumer spending continue to show marked improvement, even though we expect consumers to proceed with caution.”
This cautionary note was also sounded by Chris G. Christopher, Jr. Senior Principal Economist, U.S. Macroeconomics with IHS Global Insight.

“Or worst case scenario is a ‘double-dip,’” he said. “And we don’t see that happening. But even our best case scenario hardly makes consumers want to break out the champagne. It will be a very soft recovery at best.”

According to the NRF, cooler, seasonal weather in October helped apparel and sporting goods stores’ sales.  Clothing and clothing accessory stores sales increased 0.7 percent seasonally adjusted over last month and 1.4 percent unadjusted over last year. Sales at sporting goods, hobby, book and music stores increased 1.0 percent seasonally adjusted month-to-month and 5.9 percent unadjusted year-over-year.

Building material and garden equipment and supplies dealers sales also showed solid growth, increasing 1.9 percent seasonally adjusted month-to-month and 7.3 percent unadjusted over last year. Health and personal care stores sales decreased 0.1 percent seasonally adjusted from September but increased 1.6 percent unadjusted year-over-year. 

About the Author

image
Patrick Burnson
Executive Editor

Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

The dark side of the “Amazon effect” and larger impact made by the explosive growth in e-commerce may soon be seen when organized labor prepares of a massive air cargo strike.

During this webcast our panelist offer logistics and supply chain professionals a “reality check” when it comes to our current state of understanding, adoption, and utilization of the technological tools that are available to improve our operations.

The index ISM uses to measure non-manufacturing growth—known as the NMI—was 55.7 in April (a level of 50 or higher indicates growth), which was up 1.2 percent compared to March, with economic activity in the non-manufacturing sector growing for the 75th consecutive month.

Total gross first quarter revenue for XPO was up 404.4 percent annually to $3.5 billion, with net revenue up 510.5 percent to $1.6 billion. While gross and net revenue were up, the company reported a net loss of $23.2 million, or $0.21 per diluted share and an adjusted net loss attributable to common shareholders of $9.3 million or $0.08 per share.

Regardless of capacity, pricing, or the economy, trucking industry regulations are never far from the freight transportation limelight. That is especially evident when it comes to the federally mandated hours-of-service (HOS) regulations. As usual, the current state of HOS remains somewhat fluid. And the reason for that has to do with legislation coming from the Senate Transportation Appropriations legislation that is currently being considered by the Senate.

Article Topics

News · Economy · Retail · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2016 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA