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.
Pantone is going back to the great outdoors for inspiration and turning to Muse for its Spring/Summer’18 color forecast.Read more
In a letter to Bangladesh Prime Minister Sheikh Hasina Wazed, the American Apparel & Footwear Association (AAFA) addressed ongoing wage concerns, labor leader arrests and worker terminations.Read more
Clemson University is receiving major financial assistance for future textile innovation.Read more
The race to the bottom for apparel prices has resulted in a myriad of unintended consequences for garment workers around the globe. And they’re not contained to developing nations.Read more
Whether it’s athleisure, the rising trend in comfort clothing or technology for smarter outerwear, customers are after fabrics with function.Read more
Often politicians are accused of making empty promises in order to get elected. President Donald Trump has proven to be anything but a typical politician, however.Read more