Ten of 13 major retail categories showed a pickup last month Figures beat market forecasts of a 5% gain as more businesses reopened and domestic trade continues to recover from a slump in April due to the coronavirus lockdown. But the American consumer is surprisingly resilient. This is going to be a consumer-driven recovery.”Mr. U.S. retail sales rose for the second consecutive month in June, according to Census Bureau data released Thursday, as consumers reacted to an easing of … The U.S. Commerce Department released June retail sales figures on Thursday that beat estimates, soaring 7.5% after an 18.2% jump in May, the biggest gain ever. U.S. retail sales exceeded forecasts in June for a second straight month as more businesses reopened and expanded jobless benefits padded the wallets of the unemployed.The value of retail purchases increased 7.5% from the prior month after an upwardly revised record 18.2% surge in May, according to Commerce Department data out Thursday. More up-to-date “Looking ahead to July or August it starts to become more challenging to repeat the gains we have been seeing,” said Michelle Meyer, head of U.S. economics at Bank of America.Malls and other retailers that were deemed nonessential during lockdowns reopened in June and are now facing the prospect of closing again. Retail sales increased 7.5 percent, but there are ominous signs that the rebound may fizzle as coronavirus cases rise through much of the country.The American consumer came back last month, with retail sales increasing 7.5 percent from May as stores reopened in warm weather, shoppers shook off lockdown fatigue and the federal government pumped trillions of dollars of stimulus into the economy.The jump, which sent spending back to just below where it was in February before the coronavirus pandemic sent the country into a tailspin, seemed to be cause for celebration after a record rebound in May.“I feel like the consumers are just fed up,” said Andrew Moquin, who reopened his jewelry store outside Buffalo early last month. They want to be happy or they want their loved ones to be happy. The April 2020 Monthly Retail Trade and Food Services report was released on June 16, 2020 at 8:30 a.m. for sales and 10:00 a.m. for inventories, and available as: Retail and Food Services Sales: Excel (1992-present) [738KB] Retail Inventories and Inventories/Sales Ratios: Excel (1992-present) [456KB] For example, spending has been shifting from traditional entertainment to what analysts have called “solitary leisure activities,” bolstering sales of bicycles, coolers and drinkware for parks and beaches, and hiking and camping gear, according to a Bank of America research note this month.The June retail sales report showed a 27 percent jump in the category of sporting goods, hobby, musical instruments and bookstores, which rose even compared with June 2019, after having surged in May.Megan Searfoss, the owner of Ridgefield Running Company, a running store in Ridgefield, Conn., seems to be a beneficiary of the trend. “They are moving on with their lives and they are saying, ‘I can’t solve these problems,’ whether it be Covid-19 or the divisiveness in the political arena. On Thursday, new The retail sales report released by the Commerce Department on Thursday reflected spending in June, before the surge in virus cases forced some businesses to close down again and worried consumers anew.
But Ms. Searfoss decided to forge ahead with the Darien store, which opened on Thursday, motivated by changes she made to her operations in recent months — like virtual fittings and same-day deliveries that were faster than Zappos and Amazon — and her conviction that small businesses have become more appealing amid the pandemic. But the foot traffic along her street and to nearby restaurants has been sparse.“People are not coming out, they are staying home,” she said.The way people shop has changed dramatically during the pandemic, with more purchases being done online.Walmart said this week that all customers at its stores must wear masks.Megan Searfoss, the owner of Ridgefield Running Company, at her new store.High-profile bankruptcies since the beginning of May have included J.Crew, J. C. Penney, Brooks Brothers and GNC. Data from the Labor Department on Thursday showed first-time applications for The figures “confirmed the strong snapback in demand as retail sales are now back to their pre-coronavirus levels,” Oxford Economics’ Lydia Boussour and Gregory Daco wrote in a note.
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