NRF Reports February Sales Gains
Washington, D.C., The National Retail Federation (NRF) reported today that retail sales for February rose 4.4% over last year and increased 0.3% seasonally adjusted over January.
“February’s sales were especially robust given the strong competition from a year ago and the persistent dreary weather last month,” said NRF chief economist Rosalind Wells. “Consumers were motivated to spend on the Super Bowl and Valentine’s Day, and holiday gift cards are continuing to trickle in, which is improving some retailers’ first-quarter performance.”
Most retail categories experienced growth in February. Super Bowl spending spurred sales at electronics and appliance stores, whose sales rose 1.6% seasonally adjusted from January and 4.2% over a year ago. Sales in furniture and home-furnishings stores rose 0.7% from the prior month and 3.3% over last February. Apparel specialty stores saw gains of 1.1% from January and 2.9% over last year.