Electronics, department stores lead declines in weak retail sales report
mihailomilovanovic
Building materials and supplies, electronics, general merchandise stores, and motor vehicle & parts dealers were among the categories prompting the weakest retail sales report in 6 months.
For the month of March, retail sales slid 1% sequentially, more than doubling the consensus expectation. Core retail sales also more than doubled the expected drop, down 0.8% as compared to a 0.3% expectation. The reading was the weakest since November 2022.
According to the data, general merchandise store sales fell 3% sequentially, led by a 2.5% drop in department store sales. Electronics, clothing, and furniture retailers saw sales slide 2.1%, 1.7%, and 1.2%, respectively. Rounding out notable declines, building material & garden equipment & supplies dealers saw a 2.1% pullback in sales while motor vehicle & parts dealer sales fell 1.6%. The declines offset rises in non-store retail sales, which includes e-commerce, sporting goods, and health & personal care store sales.
Related tickers: Walmart (WMT), Target (TGT), Kohlâs Corporation (KSS), TJX Companies (TJX), Nordstrom (JWN), Dillardâs (DDS), Macyâs (NYSE:M), Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Alllbirds (BIRD), Nike (NKE), Burlington Stores (BURL), Boot Barn (BOOT), Lululemon Athletica (LULU), The Gap (GPS), Foot Locker (FL), Ross Stores (ROST), Victoriaâs Secret (VSCO), Urban Outfitters (URBN), Ralph Lauren (RL), Levi Strauss (LEVI), PVH Corp. (PVH), Under Armour (UAA), Kontoor Brands (KTB), VF Corp. (VFC), Whirlpool Corporation (WHR), Wayfair (W), Williams Sonoma (WSM), Floor & Decor Holdings (FND), RH (RH), Ethan Allen (ETD), Home Depot (HD), Loweâs Companies (LOW), Tractor Supply (TSCO), Dickâs Sporting Goods (DKS), Carvana (CVNA), Lithia Motors (LAD), CarMax (KMX), AutoNation (AN), Copart (CPRT), AutoZone (AZO), OâReilly Automotive (ORLY), Advance Auto Parts (AAP), Ulta Beauty (ULTA), and Best Buy (BBY).