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January 17, 2022

NRF reports 13.4% increase in US retail sales in December

Retail sales in the country dropped by 2.7% last month from November on a seasonally adjusted basis.

US retail sales over the Christmas period were better than expected, according to data from the National Retail Federation (NRF).

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The data showed that retail sales in December, excluding those at automobile dealers, gasoline stations and restaurants, increased by 13.4% against last year’s figure, but dropped by 2.7% from the previous month.

Sales grew by 14.1% to $886.7bn from November to December compared with the same period of last year.

During this period, online and other non-store sales increased by 11.3% to $218.9bn, while sales in clothing and clothing accessory stores rose by 33.1%.

Grocery and beverage store sales increased by 8.6%, while sporting goods stores also reported a 20.9% rise in sales.

The NRF figures are based on data from the US Census Bureau.

NRF president and CEO Matthew Shay said: “We closed out the year with outstanding annual retail sales and a record holiday season, which is a clear testament to the power of the consumer and the ingenuity of retailers and their workers.

“Despite supply chain problems, rising inflation, labour shortages and the Omicron variant, retailers delivered a positive holiday experience to pandemic-fatigued consumers and their families.

“Consumers were backed by strong wages and record savings and began their shopping earlier this year than ever before. This is, in part, why we saw a decline in sales from November to December.

“The NRF expects further growth for this year and we will continue to focus on industry challenges presented by Covid-19, the supply chain, labour force issues and persistent inflation.”

In November, the NRF reported that US retail sales increased by 1.7% seasonally adjusted from September and 16.3% from a year earlier.

Retail sales in October, excluding those at automobile dealers, gasoline stations and restaurants, increased by 1.7% seasonally adjusted from September and were up by 10.8% unadjusted from the same period of the previous year.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.