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2022-11-16

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Retail Sales Rose 1.3% in October Ahead of Holiday Season

Retail sales rose a sharp 1.3% in October as consumers spent more on gasoline, food and big-ticket i

Retail Sales Rose 1.3% in October Ahead of Holiday Season

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玉树临风英俊
·2022-11-16
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The consumer-price index rose a seasonally adjusted 7.7% in October from a year before, the Labor Department said last week, slowing from 9.1% in June, which was the highest in four decades.</p><p>Economists and executives are closely watching consumer spending in the early weeks of the important holiday selling season.</p><p>Retailers started holiday sales earlier this year, with some big retailers reporting sales growth in the third quarter.</p><p>Walmart Inc. reported Tuesday that comparable U.S. sales rose 8.2% in its third quarter compared with a year earlier. The company said that shopper visits increased 2.1% in the quarter ended Oct. 28.</p><p>Home Depot Inc. said that comparable sales rose 4.3% in its third quarter as big-ticket transactions and as consumers choose to renovate their homes instead of moving because of rising interest rates.</p><p>Alana Carr is the part-owner of four specialty retailers in Washington state. Ms. Carr said her toy store, gift shops and jewelry retailer have all done well this year, with overall sales up by double-digits compared with 2021.</p><p>Ms. Carr said she has been ready for the holiday shopping season since September. She ordered products early to avoid the shortages she experienced last year. She said she is worried that selling might be a bit softer because of the economic uncertainty and inflation eating into consumer budgets.</p><p>Greg Hughes, president of an Indianapolis-based distributor and manufacturer of board games, is concerned some of his retail customers are overstocked, in a contrast to shortages last year. Mr. Hughes said he would closely watch for a surge in last-minute orders right after Black Friday, as was typical in the years before the pandemic.</p><p>“Black Friday tells so much about where things are,” he said. “If we see a trickle, then the cautious side is the one that is prevailing.”</p><p></p></body></html>","source":"wsj_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Retail Sales Rose 1.3% in October Ahead of Holiday Season</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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The consumer-price index rose a seasonally adjusted 7.7% in October from a year before, the Labor Department said last week, slowing from 9.1% in June, which was the highest in four decades.Economists and executives are closely watching consumer spending in the early weeks of the important holiday selling season.Retailers started holiday sales earlier this year, with some big retailers reporting sales growth in the third quarter.Walmart Inc. reported Tuesday that comparable U.S. sales rose 8.2% in its third quarter compared with a year earlier. The company said that shopper visits increased 2.1% in the quarter ended Oct. 28.Home Depot Inc. said that comparable sales rose 4.3% in its third quarter as big-ticket transactions and as consumers choose to renovate their homes instead of moving because of rising interest rates.Alana Carr is the part-owner of four specialty retailers in Washington state. Ms. Carr said her toy store, gift shops and jewelry retailer have all done well this year, with overall sales up by double-digits compared with 2021.Ms. Carr said she has been ready for the holiday shopping season since September. She ordered products early to avoid the shortages she experienced last year. She said she is worried that selling might be a bit softer because of the economic uncertainty and inflation eating into consumer budgets.Greg Hughes, president of an Indianapolis-based distributor and manufacturer of board games, is concerned some of his retail customers are overstocked, in a contrast to shortages last year. 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