May 2023

Retail inched ahead last month, whilst fashion stores slipped behind, in keeping with the Census Bureau’s latest reading on industry sales.  April retail and food services sales rose 1.6 percent from a yr earlier as consumers overcame persistent inflation, a bank crisis and renewed worries a couple of recession.  But apparel and accessories speciality stores sales slipped 2.3 percent for the month, while shops were off 1.4 percent.  For the retail fiscal first quarter — which incorporates February, March and April — fashion specialty stores were down 0.4 percent while shops managed a 0.6 percent increase.  Those figures reflect sales in stores. Non-store retailers, a category dominated by e-commerce, saw sales increase 8 percent for the month in addition to the quarter — putting...