Monday, January 30, 2017
Americans ramped up auto buying and holiday shopping in December. The Commerce Department says retail sales rose a seasonally adjusted 0.6%, following a small 0.2% gain in November. Excluding autos and gas, overall sales were flat. Online retailers reported better sales; consumer confidence has soared after the election, reaching the highest levels in nearly a decade; and average hourly pay rose 2.9% from a year earlier, the most in seven years. Among retailers reporting monthly comp-store sales, L Brands was down 1.0%, Gap was up 4.0%, and Costco was up 3.0%. See our sales reports below.