When it comes to the July Retail Sales report, it has historically been one of the better ones relative to expectations.  This year was no exception as we saw a strong beat relative to expectations not only on the top line but also when you strip out the impact of Autos and Gas.  While July’s data was strong, though, it comes off a lower base as June’s originally reported strong numbers were all revised lower.  After taking both the downside revision and July’s strength into account, it ends up being slightly more positive than a wash.

In terms of breadth, the results of this month’s report were positive again with nine components increasing and just four declining.  Both the Clothing and Bars and Restaurants sectors showed m/m growth of 1%+.  Sporting goods was the only decliner of more than 1%.

Online sales are a category that has been eating the lunch of traditional brick and mortar retail for some time, but in this month’s report, there were some signs starting to emerge that traditional retail isn’t going down without a fight.  Even as the above table illustrates, other sectors of the economy showed much more growth than Non-Store retailers this month.  In our latest B.I.G. Tips report, we covered all of the major trends surrounding this month’s retail sales report as well as some longer-term trends that may be starting to shift a bit towards the favor of traditional retailers.

This one is a must-read.  To see it, sign up for a Bespoke Premium membership now!

Print Friendly, PDF & Email