Total retail sales growth edged lower in November, pressured by sluggish results at department, chain and discount stores, according to data released by the US Department of Commerce. Sales grew 3.5% on a 12-month smoothed basis, slightly below October’s 3.6% growth rate.
Autos had a positive impact on total sales in November. Taking autos out of the mix, total retail sales increased by only 3%.
Total retail inventory surged by 8% in October (the most recent month for which this measure is available), equal to September’s increase. Total inventory-to-sales ratios rose slightly.
Department, discount and chain store sales fell by almost 4% in November, their biggest monthly drop since July 2009. Many large retailers blamed the disappointing sales on the aftermath of Hurricane Sandy, when flooding and power outages caused temporary store closures or reduced foot traffic. Big store inventory dropped by 4.8%, and inventory-to-sales ratio rose slightly as well.
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The specialty apparel store sector had a very good month, however. Sales growth increased to 5.9% in November, their biggest increase in 8 months, on an only 3.8% increase in inventory the month before. The inventory to sales ratio fell for specialty stores in October.
The combined department, chain, discount and apparel specialty retail sector, a traditionally reliable barometer of total apparel sales, enjoyed a sales improvement of only 1.5% on a 12-month smoothed basis, slightly below the prior month’s 1.6% gain, due to the softness in the big store sector.
| Retail Sales & Inventory | |||
| $MM — Adjusted for Seasonality | |||
|
Nov-12 |
Oct-12 |
Nov-11 |
|
| Total US Retail Sales |
412,403 |
411,308 |
397,678 |
| Department Store Sales |
14,964 |
15,092 |
15,436 |
| Apparel Specialty Stores |
20,362 |
20,177 |
19,141 |
| Total Dept & Specialty |
35,326 |
35,269 |
34,577 |
|
Oct-12 |
Sep-12 |
Oct-11 |
|
| M & B Specialty Sales |
N/A |
N/A |
N/A |
| W & G Specialty Sales |
3,557 |
3,505 |
3,242 |
| Total Retail Inventory |
506,150 |
503,262 |
467,616 |
| Dept Store Inventory |
29,695 |
29,216 |
30,838 |
| Apparel Specialty Inv |
47,897 |
47,956 |
46,132 |
| Dept & Spec Inv:Sales |
2.20 |
2.19 |
2.23 |
