by DOC report notes that sales also rose 1.4% from June
WASHINGTON — Furniture store sales once again rose in July, posting their 11th consecutive winning streak in an environment where consumers have largely remained skittish on some large-ticket purchases given interest rates and the likely impact of tariffs on retail pricing.
According to numbers released by the U.S. Department of Commerce on Friday, furniture store sales rose 5.1% from July 2024, totaling $11.7 billion, up from $11.1 billion in July 2024. They rose 1.4% from $11.5 billion in June.
By comparison, overall retail sales rose 3.9% in July, totaling $726.3 billion, up from $698.9 billion in July 2024. They were also up .5% from $722.6 billion in June.
Once again, furniture stores reported one of the largest percentage year-over-year increases, helping reverse a nearly 18-month slump before sales began rising again last September. However, the gain was still less than miscellaneous and non-store retailers, restaurants and bars, and health and beauty care stores.
The largest gain was seen by miscellaneous store retailers, including pet supply stores, florists and religious supply stores. It reported $14.9 billion in sales, up 10.6% from $13.4 billion in July 2024.
It was followed by non-store retailers such as e-commerce specialists and catalog businesses, up 8% to $127 billion, from $117.6 billion; restaurants and bars, up 5.6% to $98.3 billion, from $93.1 billion; clothing and clothing accessories stores, up 5% to $26.6 billion, from $25.4 billion; motor vehicle and parts dealers, up 4.7% to $139.1 billion, from $132.9 billion; and food and beverage stores, up 2.5% to $85 billion, from $83 billion.
Also reporting increases were general merchandise stores, up 2.3% to $77.4 billion, from $75.7 billion, and sporting goods, hobby, musical instrument and bookstores, also up 2.3% to $8 billion, from $7.8 billion.
Reporting decreases were gasoline stations, down 2.9% to $51.2 billion, from $52.7 billion; building materials and garden equipment and supplies dealers, down 2.6% to $39.9 billion, from $40.9 billion; and electronics and appliance stores, down 2.3% to $7.5 billion from $7.7 billion.
While furniture store sales have held up based on this data, many in the industry are questioning what impact tariffs may have as they likely will raise prices for consumers. The data in the month ahead may provide some indication of that impact, but, for now, the industry can bask in its overall reported gains in recent months.
The $11.7 billion in July furniture store sales also continues to remain above pandemic and pre-pandemic levels. They compare to $11.2 billion in July 2023; $11.6 billion in July 2022; $11.5 billion in 2021; $10 billion in July 2020; $9.9 billion in July 2019; $9.8 billion in July 2018; $9.3 billion in July 2017; $9.2 billion in July 2016; and $8.9 billion in July 2015.
