Christian Retailing

NEWSLETTERS Current Issue NRF: Cold weather freezes January retail growth
NRF: Cold weather freezes January retail growth PDF Print E-mail
Written by Jeremy Burns   
Friday, 14 February 2014 04:48 PM EST

MatthewShay-NRF-WebConsumers’ spending leveled off post-holiday in the beginning of the year due in part to severe winter weather in much of the country. January retail sales, excluding automobiles, gas stations and restaurants, were flat seasonally adjusted month-to-month, yet increased 3.0% unadjusted year-over-year, according to the National Retail Federation (NRF).

Book, music, sporting goods and hobby stores’ sales decreased 1.4% seasonally adjusted month-to-month and 1.5% unadjusted year-over-year.

“Following a solid holiday sales season, it seems that many consumers decided to take a break from the stores and shopping malls this January in an attempt to avoid winter weather,” NRF President and CEO Matthew Shay said. “While the dip in retail sales was somewhat anticipated, it is concerning that both jobless claims came in above projections and that consumer spending were flat in January—it’s not the way to kick off a new year.”

Released Feb. 13 by the U.S. Census Bureau, January retail sales, which include categories such as automobiles, gasoline stations and restaurants, decreased 0.4% seasonally adjusted month-to-month, yet increased 2.6% adjusted year-over-year.

“Harsh winter weather is masking the performance of the broader economy,” NRF Chief Economist Jack Kleinhenz said. “Extreme temperatures and severe ice and snow are making it increasingly difficult to assess if the retail sales slowdown is temporary or a telling sign of a longer lasting weakness in the consumer-fueled economy. No one can jump to any solid conclusion until we shovel out of the snow.”

Earlier this month, NRF released its annual economic forecast projecting a 4.1% increase in retail sales in 2014.

 

In this current issue:

ECPA to honor IVP's Bob Fryling

News image

The Evangelical Christian Publishers Association will honor Bob Fryling with...

READ MORE

Vote for the best products of 2015

News image

Christian Retailing invites Christian retailers, publishers and all who work...

READ MORE

NRF: Significant spending boost expected this Easter

News image

Americans anticipate spending more than ever on Easter this year....

READ MORE

B&H Kids' Bibleman gets reboot

News image

B&H Kids is promoting the fall release of Bibleman: The...

READ MORE

Harvest House Publishers celebrates coloring book success

News image

Harvest House Publishers announced Friday that its new coloring book...

READ MORE

‘Living Forward’ hits best-seller lists

News image

Living Forward by Michael Hyatt and Daniel Harkavy has achieved wide...

READ MORE

‘Outreach’ honors IVP titles

News image

Outreach magazine honored six IVP titles as part of the...

READ MORE

Study: Digital payments see 20 percent boost globally

News image

A new study from Juniper Research has found the annual...

READ MORE

‘Miracles From Heaven’ debuts in box office top 3

News image

Miracles From Heaven debuted in theaters to strong reviews and...

READ MORE

Oasis, Tyndale partner on ‘Africa Study Bible’

News image

Major Christian organizations, led by Oasis International, are joining together...

READ MORE

Worthy, Genesis Marketing Group partner

News image

Worthy Publishing announced Tuesday that it has partnered with Genesis...

READ MORE

Bookmasters, Paraclete Press sign fulfillment agreement

News image

Bookmasters has signed an agreement with Paraclete Press to provide...

READ MORE
100%
-
+
0
Show options

Most Popular Articles


a