U.S. Retail Sales Better than Expected (M, GPS, AMZN, WMT, TGT, BBY, RSH)

Before you go, we thought you'd like these...
Before you go close icon

According to today's report from the U.S. Census Bureau, retail and food services sales in August rose 0.9% month-over-month and 4.7% compared with August 2011. Economists had been expecting an increase of 0.8% from July. Excluding sales of cars and auto parts, sales rose 0.8%, in line with expectations.

As might have been expected, auto sales rose the most, up 12.3% from a year ago, but furniture stores rose 8.4%, and clothing and accessories sales rose 5.8%, as did sporting goods and hobby sales. Clothing and department store retailers like Macy's Inc. (NYSE: M) and Gap Inc. (NYSE: GPS) have already reported robust August sales, and today's numbers from the Census Bureau are right in line with those early reports. On a cautionary note, clothing store sales were down 0.1% from July.

The Census Bureau also noted that nonstore retail sales jumped 10.6% year-over-year. This category includes Amazon.com Inc. (NASDAQ: AMZN) and online sales from retailers like Wal-Mart Stores Inc. (NYSE: WMT) and Target Corp. (NYSE: TGT). The not-so-good news here is that sales were flat month-over-month for the nonstore retailers.

The big losers for the month of August were electronics and appliance stores, where sales fell by 2.3% year-over-year and 1.4% from July. Again, no big surprise given the recent performance at Best Buy Co. Inc. (NYSE: BBY) and RadioShack Corp. (NYSE: RSH).

Paul Ausick

Filed under: 24/7 Wall St. Wire, Autos, Consumer Electronics, Consumer Goods, Consumer Product, Research, Retail Tagged: AMZN, BBY, GPS, M, RSH, TGT, WMT
Read Full Story


S&P 500 2,254.68 8.49 0.38%
DJIA 19,698.36 83.55 0.43%
NASDAQ 5,433.90 16.55 0.31%
DAX 11,203.63 24.21 0.22%
HANG SENG 22,760.98 -100.86 -0.44%
NIKKEI 225 18,996.37 230.90 1.23%
USD (per EUR) 1.05 -0.01 -0.66%
USD (per CHF) 1.02 0.00 0.26%
JPY (per USD) 115.27 1.20 1.05%
GBP (per USD) 1.26 0.00 -0.13%

From Our Partners