Home / Knowledge / News / Apparel/Garments / Severe winter weather cripples US January retail sales
Severe winter weather cripples US January retail sales
14
Feb '14
Consumers leveled off post-holiday shopping and spending in the beginning of the year due in part to severe winter weather in much of the country. According to the National Retail Federation – the world largest retail trade association – January retail sales, excluding automobiles, gas stations and restaurants, were flat seasonally adjusted month-to-month yet increased 3.0 percent unadjusted year-over-year.
 
“Following a solid holiday sales season, it seems that many consumers decided to take a break from the stores and shopping malls this January in an attempt to avoid winter weather,” NRF President and CEO Matthew Shay said. “While the dip in retail sales was somewhat anticipated, it is concerning that both jobless claims came in above projections and that consumer spending were flat in January – it’s not the way to kick off a new year.
 
“Even though policymakers decided wisely to increase the debt ceiling this week so the nation would not default on its obligations, more can be done to spur consumer confidence and spending and employment and economic opportunity.”
 
January retail sales, released today by the U.S. Census Bureau, which include categories such as automobiles, gasoline stations, and restaurants, decreased 0.4 percent seasonally adjusted month-to-month yet increased 2.6 percent adjusted year-over-year.
 
“Harsh winter weather is masking the performance of the broader economy,” NRF Chief Economist Jack Kleinhenz said. “Extreme temperatures and severe ice and snow are making it increasingly difficult to assess if the retail sales slowdown is temporary or a telling sign of a longer lasting weakness in the consumer-fueled economy. No one can jump to any solid conclusion until we shovel out of the snow.”
 
Earlier this month, NRF released its annual economic forecast projecting a 4.1 percent increase in retail sales in 2014.
 
Other findings from the January retail sales report include:
- Clothing and clothing accessories stores' sales decreased 0.9 percent seasonally-adjusted month-to-month yet increased 1.4 percent unadjusted year-over-year.
- Furniture and home furnishing stores’ sales decreased 0.6 percent seasonally-adjusted month-to-month and 2.1 percent unadjusted year-over-year.
 

National Retail Federation


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search