15 Dec Retail May Be Getting Better But Mall Traffic is Still Problematic
After a rough patch, sales for apparel and footwear are starting to head in the right direction.
According to the U.S Department of Commerce, which on Wednesday released an early report of retail sales for the month of November, clothing and accessories sales increased 1.9 percent year-over-year in November. Those results are also an improvement over October, when sales in the category dipped 1.1 percent.
While the results were generally a positive for retail, Cowen & Co. analyst John Kernan pointed out Wednesday that non-store retail sales increased 15.3 percent year-over-year, to 30.1 percent of total sales, up from 27.7 percent last year. (Total sales exclude: autos, gas stations, food and grocery.)