Electronics 1 of Only 2 Retail Categories With July Sales Declines, NRF Says
July sales at electronics stores fell 1.2 percent from June and 2.9 percent from July 2014, the National Retail Federation said in a Thursday report. All retail categories improved over June, except for general merchandise and electronics, NRF said. Overall…
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retail sales in July, excluding autos, gas and restaurants, increased 0.3 percent from June and 3.4 percent from July last year, it said. “July’s results further cement our expectations that we’ll see continued sales and spending growth through the remainder of 2015,” NRF said, but consumers “remain cautious about their spending and are timid when it comes to leveraging credit to support their purchases. ... Given the renewed growth in the labor market and incomes and sustained low gas prices along with the improving housing market, we are still optimistic that retailers will eventually benefit from a more confident consumer.”