Connect with us

Headlines

Retail Sales Saw July Decline

Overall retail sales fell 1.1 percent in July.

mm

Published

on

Retail sales reportedly declined 1.1 percent in July, which was worse than the anticipated decline of 0.3 percent, reports CNBC.

Book stores, Musical instrument and sporting goods stores had a sales decrease of 1.9 percent, and clothing took a 2.6 percent dip. Car and motor vehicle parts dealers’ sales fell 3.9 percent. Online sales also had a decline of 3.1 percent.

Despite this, food and beverage sales were up 1.7 percent and gas sales saw a 2.4 percent increase. Restaurants and bars also had a 38.4 percent increase in sales from this time a year ago.

“Although retail sales fell in July, the outlook for consumer spending remains positive … However, spending growth will shift from goods to services over the next couple of years, limiting growth in most categories of retail sales,” says Gus Faucher, Chief U.S. Economist at PNC, CNBC reports.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | MSG Jewelers

Wilkerson Takes the Worry Out of Closing

MSG Jewelers has always treated its customers like family. When owner Mike George decided to retire and close the doors of his St. Louis, Missouri jewelry store, he selected a company to manage his going-out-of-business sale that treats its customers like family, too. That’s why he chose Wilkerson. “Wilkerson was able to do all the things that we needed,” says George. In the end, the bittersweet store closing was so much easier with Wilkerson at the helm. From marketing to pricing to inventory, Wilkerson does it all. “It’s a package deal,” says George.

Promoted Headlines

Most Popular