by Total retail sales excluding automobile dealers and gasoline stations are estimated to be up 5% from same period last year
WASHINGTON — Furniture store sales were down 1.7% unadjusted from October 2024 and down .8% seasonally adjusted from September, according to estimates from the National Retail Federation released Monday, Nov. 10.
In comparison, the NFR said that total retail sales, excluding automobile dealers and gasoline stations, were up 5% unadjusted year over year from October 2024 and up .6% seasonally adjusted from September. This is according to CNBC/NRF Retail Monitor, which uses “actual, anonymized credit and debit card purchase data compiled by Affinity Solutions,” which the NRF said does not need to be revised monthly or annually.
The latest results compare to an overall estimated retail sales increase of 5.42% year over year from September 2024 and a decrease of .66% from August.
“Retail sales grew in October as consumers geared up for the holiday season,” said NRF President and CEO Matthew Shay. “Recent economic data has been mixed, yet consumer spending remains solid — supported by wage growth outpacing inflation, historically low unemployment and wealth effects from strong stock market valuations. These factors point to continued momentum heading into the holidays as consumers focus on family, friends and finding value to make their budgets go further.”
The NRF said October sales were up in all but two of nine categories on a yearly basis.
The other category that was down along with furniture was building and garden supply stores, which NRF estimated had declined 8.52% unadjusted from October and down .81% adjusted from September.
Categories that were up included:
+ Digital products (including electronic books and games) were up 22.39% from October 2024 and up 2.02% month over month from September.
+ Clothing and accessories stores were up 7.89% year over year from October 2024 and up 1.42% from September.
+ Sporting goods, hobby, music and bookstores were up 7.19% from October 2024 and up .09% from September.
+ General merchandise stores were up 6.99% from October 2024 and up .58% from September.
+ Electronics and appliance stores were up 6.58% from October 2024 and up .13% month over month.
+ Grocery and beverage stores were up 4.08% from October 2024 and up .59% from September.
+ Health and personal care stores were up 1.9% from October 2024 and up .58% from September.
Since the government shutdown, the U.S. Department of Commerce has not released its monthly retail sales report since Sept. 16, reflecting sales for the month of August. If the government shutdown ends this week, it is expected to release sales for the month of October on Dec. 17.
