Thursday, June 16, 2016
Retail sales rose 0.5% in May, more than expected, suggesting economic growth is gaining steam. Auto sales rose 0.5%. Receipts at service stations increased 2.1%, reflecting increases in gas prices. Sales at clothing stores increased 0.8%, the largest gain since November. Online retail sales shot up 1.3%. Receipts at sporting goods and hobby stores jumped 1.3%. Restaurants and bars sales climbed 0.8%. Sales at electronics and appliance outlets gained 0.3%. Sales at building materials and garden equipment stores fell 1.8%. Furniture store sales dipped 0.1%. Among retailers reporting monthly comp-store sales, L Brands was flat, Gap was down 6.0%, and Costco was up 1.0%. See our sales reports below.