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U.S. holiday sales rise 4.1% in 2019 on strong online sales: NRF

today Jan 17, 2020
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U.S. holiday sales rose 4.1% in 2019 from a year earlier, as steady wage and jobs growth encouraged shoppers to splurge on groceries, beverages and furniture, the National Retail Federation (NRF) said on Thursday.

The U.S. retail group said holiday salesrose to $730.2 billion, largely above the midpoint of its forecast of 3.8% to 4.2% growth - Reuters

The U.S. retail group said holiday sales, excluding automobile dealers, gasoline stations and restaurants, rose to $730.2 billion, largely above the midpoint of its forecast of 3.8% to 4.2% growth, and up from a modest 2.1% growth last year.

“This was a healthy holiday season, especially compared with the decline in retail sales we saw at the end of the season in 2018,” NRF Chief Economist Jack Kleinhenz said, noting that trade policy turmoil, a government shutdown and financial market volatility took a toll on the industry.

The trade body also said online and non-store sales, which are included in the overall number, grew 14.6% to $167.8 billion, marking at least the fourth consecutive year of double-digit gains.

NRF had forecast the online retail sector would grow between 11% and 14%, to between $162.6 billion and $166.9 billion.

Sales of beverage, grocery and furniture also posted strong growth, while sales of apparel, electronics and appliances and sporting goods fell.

Macy’s Inc, Kohl’s Corp and J.C. Penney Co Inc are among the several retailers that have reported dismal holiday sales for 2019, while Amazon.com Inc reported a “record” holiday season without releasing any sales figures.

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