American consumers were still slow to spend in July and retail sales were relatively unchanged from June as a result.
According to the U.S. Census Bureau’s advance monthly report, released Friday, total retail sales were $457.7 billion last month—down slightly from June’s $457.9 billion, which was a 0.7% increase over May—and up by only 1.9% from July 2015.
Clothing and accessories sales slowed, down 0.5% from June’s $21.26 billion to $21.1 billion—a 1.2% decrease year-over-year. Sales at sporting goods stores fell 2.2% from $8 billion in June to $7.8 billion in July, while general merchandise sales—which includes department stores—were down 0.1% on a monthly basis and 1.1% compared with July 2015 to $55.85 billion. Department store sales alone fell 0.5% from June and were down 4 percent from last July.
E-commerce continued to trend up last month. Following June’s 1.1% monthly gain, non-store retail sales (online) were up 1.3% from the previous month—and a massive 14.1% from July 2015—to reach $47.7 billion.
Late last month, the National Retail Federation raised its outlook for 2016 and said retail sales for the year would grow 3.4%. Following Friday’s disappointing sales result, the remainder of the year looks a little less bright.
Invista and its partner, Solvay, will deploy new technology for nylon expected to substantially improve the production process.Read more
Target is growing its private label lines and tapping into consumers’ wellness-focused wardrobes with its new performance activewear brand, JoyLab.Read more
What to expect for Autumn/Winter 2018-19 denim, plus trendsetting consumers want denim to push boundaries.Read more
European companies are improving their supply chains—and it has almost everything to do with company culture.Read more
Global container freight rates continue to be depressed by demand, despite some recent upticks.Read more
How do global companies and supply chains plan for inevitable but unpredictable disruptions, and how can they mitigate the damage?Read more
As advances in technology and changing trade patterns affect opportunities for export-led manufacturing, innovations such as smart automation, advanced robotics and 3-D printing are increasingly influencing which locations are attractive for production.Read more