April Electronics Store Sales Fell 4.7% Year Over Year: NRF
April retail sales through electronics and appliance stores jumped 1% sequentially from March, but declined 4.7% year over year, reported the National Retail Federation Tuesday. Census reported that overall retail sales in April were up 0.9% from March and 8.2%…
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higher than in April 2021, said NRF. “April retail sales demonstrate consumer strength and willingness to spend despite persistent inflation, supply chain constraints, market volatility and global unrest,” said NRF President Matthew Shay. “While consumers are facing higher prices, they are preserving their budgets by shopping smart.” The Biden administration and Congress “have an opportunity to provide targeted relief to American households by lifting the China tariffs, passing legislation to fix the supply chain and addressing immigration reform to ease the tight labor market,” he said.