Furniture sector sales edge up in May
2019.07.03
WASHINGTON — Furniture and home furnishings store sales edged up in May after taking a dip in April, although the sector growth continued to lag behind the broad retail sector.
Sales in the home furnishings store category were up 0.6% in May, reaching $10.19 billion from the $10.13 billion in May 2018, according to the latest report by the U.S. Department of Commerce. The increase followed April’s slight increase of 0.1% and an increase of 0.6% in March for the furniture store sector.
May furniture and home furnishings store sales were up 0.1% from April sales of $10.18 billion.
May sales for all U.S. retail and food services industries increased 3.2% from a year ago, to $519.02 billion and showed a slight increase (0.5%) from April’s $516.02 billion.
The furniture store sector fared better than several subsectors that saw a year-over-year decline in May 2019, including department stores, a segment of general merchandise stores (down 4.6%); sporting goods/hobby/musical instrument/music & book stores (down 4.2%); miscellaneous store retailers (down 2.6%); and electronics & appliance stores (down 2.4%).
Category winners for May were led again by nonstore retailers, which include e-commerce and mail-order catalog businesses, with an 11.4% increase from May last year. Other sectors with an increase of more than the overall retail gain in April included: food services & drinking places (up 3.7%), health & personal care stores (up 3.4%) and general merchandise stores (up 3.3%).
For the three months March through May 2019, furniture and home furnishings store sales show an increase of 2.5% from the previous three-month period and a decline of 0.2% from the same period in 2018, according to the report.
Total retail and food services sales increase 2.2% from the previous period and up 3.6% year over year. Gas stations posted the greatest increase from the previous three-month period, up 7.1%. Non-store retailers posted the greatest year-over-year increase, up 10.9% for the three-month period.
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JINHAN FAIR for Home & Gifts(Poly Spring/Autumn Fair Phase Ⅱ) is a leading international trade platform organized by Poly Exhibition. Established in 2000, JINHAN FAIR has been successfully held for 53 editions and is recognized as one of China's most established sourcing fairs for the home and gifts industry. JINHAN FAIR is also the only Union of international Fairs-approved export trade fair in the home & gifts sector in China.
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