National Retail Federation reports retail industry sales (excluding automobiles, gas stations and restaurants) in June increased 0.3% seasonally adjusted from May and 5.5% unadjusted year-over-year. It marked the 12th consecutive month of increased sales surpassing many analysts’ expectations.
“With the summer season well underway, retailers are hoping this momentum continues through the back to school season,” said NRF chief economist Jack Kleinhenz. “Knowing that shoppers remain concerned about the economy, companies have already begun offering aggressive promotions to entice shoppers.”
The onset of summer helped boost sales of garden equipment and supplies and apparel. Sales at building material and garden equipment stores increased 1.3% seasonally adjusted month-to-month and 8.5% unadjusted over last year.
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