Retail sales were up 0.9% in July seasonally adjusted from June and up 5.6% unadjusted year-over-year, according to the National Retail Federation. The numbers exclude automobile dealers, gasoline stations and restaurants.
A Coresight Research Insight Report asserts that major retailers in the U.S. have announced 7,567 store closures so far this year compared with 5,524 stores all of last year, but it isn’t all bad news.
Growth in residential remodeling spending is expected to slow considerably by the middle of next year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
The topic of tariffs is one that is dominating conversations across the housewares landscape as retailers and suppliers work to develop solutions to deal with looming price increases that are expected to touch nearly every segment in the industry.
President Donald Trump has delayed a new round of tariffs that would have put a 25% surcharge on an additional $300 billion worth of products made in China, which would have included a broad range of housewares.
The National Retail Federation is backing a bill that would strengthen congressional authority over tariff increases such as those imposed by the Trump administration during the past year.
The National Retail Federation has reported that retail sales, excluding automobile dealers, gasoline stations and restaurants, rose 0.5% in May seasonally adjusted from April and 3.2% unadjusted year-over-year.
In spite of higher tariffs on Chinese-made products coming in mid-June, traffic at the nation’s major retail ports is expected to stay strong as retailers look to stock up for the back-to-school and holiday shopping seasons.
Annual gains in homeowner spending on improvements are expected to moderate across more than half of the nation’s largest metropolitan areas in 2019, according to new projections released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Several housewares and home goods categories are in the crosshairs of a potential next round of 25% tariffs that could be imposed by the Trump administration on an additional $300 billion in Chinese-made goods. This follows the 25% tariffs that were imposed on $200 billion worth of Chinese-made products that went into effect on Friday, May 10.
A new round of tariffs put in place on Friday, May 10, by the United States is raising concerns with retailers and trade groups as the retail planning process for the 2019 holiday season begins.
President Donald Trump has threatened to move forward with a 25% hike in tariffs on $200 billion of Chinese imports this Friday, May 10, ahead of a meeting between U.S. and Chinese trade officials that was scheduled for this week in Washington, D.C.
For April, The Conference Board has reported that its Consumer Confidence Index improved after decreasing in March.
Annual gains in home improvement and repair are projected to continue decelerating through early next year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.