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News Image: Text decoration - bulletSales & Forecasts Image: Text decoration - bulletAugust 13, 2009

Despite Hope of Economic Rebound, Nervous Shoppers Send July Sales South, According to NRF
Watch an August 12 interview where NRF’s Rachelle Bernstein discusses the need for consumer relief if Congress undertakes another stimulus package

For Immediate Release
Kathy Grannis (202)783-7971
grannisk@nrf.com 

Despite Hope of Economic Rebound, Nervous Shoppers Send July Sales South, According to NRF

Washington, August 13, 2009 – The economy may be showing slight signs of improvement in certain areas, but consumer spending isn’t one of them. As the critical back-to-school season heads into August, retail industry sales for July (which exclude automobiles, gas stations, and restaurants) decreased 5.0 percent unadjusted year-over-year and also declined 0.6 percent seasonally adjusted month-to-month, according to the National Retail Federation.

July retail sales released today by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) decreased 0.1 percent seasonally adjusted from the previous month and decreased 7.9 percent unadjusted year-over-year.

“Many families postponed the bulk of their back-to-school shopping this year, possibly waiting to take advantage of their state sales tax holiday or hoping for additional discounts,” said Rosalind Wells, Chief Economist of NRF. “Hopefully, retailers’ aggressive promotions and reduced inventory levels will make for a better August and shield retailers from a disappointing season.”  

NRF’s back-to-school survey, released in July, found that the average family of students in grades K-12 would spend 7.7 percent less on back-to-school this year, from $594.24 last year to $548.72 this year. 

There were few bright spots. Health and personal care store sales remained the biggest winner, with sales increasing 0.7 percent adjusted from last month and up 4.7 percent unadjusted over last July. Sales at clothing and clothing accessories stores also increased a slight 0.6 percent adjusted month-to-month but decreased 7.2 percent unadjusted year-over year.

Additionally, electronics and appliance store sales decreased 1.4 percent seasonally adjusted month-to-month and decreased 14.3 percent unadjusted year-over-year. Sales at general merchandise stores also decreased 0.8 percent adjusted from the previous month and decreased 3.4 percent unadjusted over last year.   

The National Retail Federation is the world's largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet, independent stores, chain restaurants, drug stores and grocery stores as well as the industry's key trading partners of retail goods and services. NRF represents an industry with more than 1.6 million U.S. retail establishments, more than 24 million employees - about one in five American workers - and 2008 sales of $4.6 trillion. As the industry umbrella group, NRF also represents more than 100 state, national and international retail associations. www.nrf.com. 

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