Retail sales perked up in July amid large sales events – CNBC/NRF

Retail spending bounced back in July powered by sales events from Amazon (AMZN), Walmart (WMT), Target (TGT), Best Buy (BBY), Kohl’s (KSS) and other retailers, according to the CNBC/NRF Retail Monitor.

Total retail sales, excluding automobiles and gasoline, were up 1.5% seasonally adjusted month over month and up 5.9% unadjusted year over year in July, according to the National Retail Federation. That compared with a decrease of 0.3% and an increase of 3.2% year over year in June.

Total sales were up 4.8% year over year for the first seven months of the year and core sales were up 5.1%.

“Consumer spending increased in July, driven by successful summer sales events held by many retailers and shoppers continuing to pull purchases forward ahead of tariffs,” highlighted NRF CEO Matthew Shay. “Month-over-month gains were sizeable against a weaker-than-normal June. We may be seeing growing inflationary impacts from tariffs since recent data shows price increases in commodity goods, particularly non-durables,” he noted. “Even with weaker job growth than many expected, consumers still have the ability to spend on household priorities as wages are growing above the rate of inflation.”

On a category basis, digital products (such as electronic books and games) stood out with a 1.4%% month over month seasonally adjusted rise and up 25.0% year over year unadjusted rise.

General merchandise stores were up 2.0% month over month seasonally adjusted and up 6.9% year over year unadjusted.

Clothing and accessories stores were up 1.8% month over month seasonally adjusted and up 6.7% year over year unadjusted.

Grocery and beverage stores were up 1.4% month over month seasonally adjusted and up 5.4% year over year unadjusted.

Health and personal care stores were up 1.7% month over month seasonally adjusted and up 4.4% year over year unadjusted.

Electronics and appliance stores were down 0.5% month over month seasonally adjusted but up 2.1% year over year unadjusted.

Furniture and home furnishings stores were up 1.0% month over month seasonally adjusted and up 1.5% year over year unadjusted.

Building and garden supply stores were up 1.3% month over month seasonally adjusted but down 4.1% year over year unadjusted.