CNBC/NRF Retail Monitor’s February data shows another month of sales growth

Retail sales grew again in February, with moderate gains month over month and strong increases year over year, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by NRF.
“Despite harsh winter weather, consumer spending grew once again in February, supported by continued wage gains and overall low unemployment levels,” NRF President and CEO Matthew Shay said. “This was the fifth consecutive month that sales rose from the month before, and year-over-year gains were strong. With renewed fighting in the Middle East and its impact on global economies, retailers remain heavily focused on delivering products at competitive prices to value conscious consumers.”

Total retail sales, excluding automobile dealers and gasoline stations, were up 0.28% seasonally adjusted month over month and up 6.24% unadjusted year over year in February, according to the Retail Monitor. That compared with increases of 0.2% month over month and 5.72% year over year in January.

The Retail Monitor calculation of core retail sales (excluding restaurants in addition to auto dealers and gas stations) was up 0.27% month over month in February and up 5.87% year over year. That compared with increases of 0.15% month over month and 5.51% year over year in January.

Total sales were up 6.04% year over year for the first two months of the year, and core sales were up 5.76%.

Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.

February sales were up in all but one of nine categories on a yearly basis, led by clothing stores, health and personal care stores and general merchandise stores, and were up in five categories on a monthly basis. Specifics from key sectors include:

• Clothing and accessories stores were up 0.66% month over month seasonally adjusted and up 11.05% year over year unadjusted.

• Health and personal care stores were up 0.5% month over month seasonally adjusted and up 9.33% year over year unadjusted.

• General merchandise stores were up 0.27% month over month seasonally adjusted and up 7.77% year over year unadjusted.

• Sporting goods, hobby, music and book stores were down 0.02% month over month seasonally adjusted but up 6.53% year over year unadjusted.

• Grocery and beverage stores were up 0.3% month over month seasonally adjusted and up 4.57% year over year unadjusted.

• Electronics and appliance stores were down 0.07% month over month seasonally adjusted but up 4.37% year over year unadjusted.

• Furniture and home furnishings stores were down 0.27% month over month seasonally adjusted but up 3.07% year over year unadjusted.

• Digital products (such as electronic books and games) were up 0.98% month over month seasonally adjusted and up 2.36% year over year unadjusted.

• Building and garden supply stores were down 0.25% month over month seasonally adjusted and down 5.75% year over year unadjusted.