Monday, June 25, 2018

National News

US retail sales rose in May by 0.8% from the prior month, according to the Commerce Department. Excluding food services, auto dealers, building-materials stores, and gasoline stations sales rose 0.5%. 10 of 13 retail categories showed gains in May. Clothing stores had their biggest advance in more than a year at 1.3% and building-materials saw a 2.4% rise, the most since September. Among the sectors to show declines were furniture and home furnishings, with a 2.4% drop -- the most since 2013 -- along with sporting goods, hobby stores, and food and beverage sellers. Among retailers still reporting monthly sales, L Brands was up 5.0% and Costco was up 11.7%. See sales reports below...In a 5-to-4 ruling, the US Supreme Court handed down its decision regarding online sales tax, saying that Internet retailers can be required to collect sales taxes in states where they have no physical presence. The ruling overturned the court’s 1992 decision, which affirmed the “physical presence” test for state sales-and-use tax collections.

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