Home / Knowledge / News / Apparel/Garments / US apparel sales down 2.6% in 2019 y-o-y: NRF

US apparel sales down 2.6% in 2019 y-o-y: NRF

20
Apr '19
US apparel sales down 2.6% in 2019 y-o-y: NRF
Sales of clothing and clothing accessory stores were down by 2.6 per cent year-over-year in the US, said the National Retail Federation (NRF). Retail sales were up by 1 per cent in March seasonally adjusted from February and up 0.8 per cent unadjusted year-over-year. The numbers exclude automobile dealers, gasoline stations and restaurants.

As of March, the three-month moving average was up 2.6 per cent over the same period a year ago. March’s results make up for a revised monthly loss of 0.8 per cent seen in February and build on February’s year-over-year gain of 2.5 per cent. According to NRF, the numbers could have been better if not for cold weather early in March and changes in the timing of two key religious holidays.

“March’s numbers are very encouraging and set the stage for improved expectations for the economy in the coming months, especially since the first quarter is typically weak,” NRF chief economist Jack Kleinhenz said. “These numbers boost first-quarter performance and suggest a strong consumer. It is clear that underlying consumer fundamentals including job and wage growth and healthy household balance sheets continue to support spending. Consumers were busy in March after weaker-than-expected spending earlier.”

“The change of seasons is always a factor because of the weather, and a later Easter and passover this year mean holiday-related sales that took place in March last year won’t come until April this year and sizably impact year-over-year comparisons,” added Kleinhenz.

NRF’s preliminary forecast projects that retail sales during 2019 will increase between 3.8 per cent and 4.4 per cent to more than $3.8 trillion. The forecast is subject to revision as more data is released in the coming months. (PC)
 

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 8th Aug 2020

Pandemic causes trade decline, dips commodity prices: IMF

Current account surpluses and deficits narrowed modestly in 2019, and ...

Pic: Shutterstock

Textiles | On 8th Aug 2020

Pak ministry working to get textile policy cleared by ECC

Pakistan's commerce ministry is busy trying to get the Textile Policy ...

Pic: Hermès International

Fashion | On 8th Aug 2020

Hermes Int H1 FY20: revenues €2,488 mn; net profit €335 mn

Hermes International SA, a French high fashion luxury goods...

Interviews View All

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Rahuul Jashnani, Jashn

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Ken Butts,

Ken Butts

The mission of Swiss company Datacolor is to empower its customers to make ...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

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

Leave your Comments


July 2020

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


Advanced Search