Despite a slow start in January, February retail sales showed a comeback with all but one retail category showing improvement, according to the monthly report released by the National Retail Federation (NRF).
In February, sales were up .95 percent month over month and up 6.69 percent year over year. Online sales, sporting goods, hobby, music and books were the top retail categories for February in terms of sales.
- Online and other non-store sales: up .8 percent month over month; up 18.08 percent year over year.
- Sporting goods, hobby, music and book stores: up 2.29 percent month over month; up 13.67 percent year over year.
- Health and personal care stores: up .96 percent month over month; up 11.18 percent year over year.
- Clothing and accessories stores: up .51 percent month over month; up 8.0 percent year over year.
- Grocery and beverage stores were up .99 percent month over month and up 5.29 percent year over year.
- General merchandise stores: up .67 percent month over month; up 3.34 percent year over year.
“February retail sales indicate continued momentum from consumers,” Matthew Shay, President and CEO of NRF, said in the report. “While the future direction of interest rates and inflation remains uncertain, it’s clear that a strong job market and increases in real wages are continuing to support spending.”