Despite an overall slump in retail sales this year, some thriving stocks to watch have popped up - retailers that are growing sales, many in the double digits.
These retailers have done a better job of adapting to both the shift toward more online shopping as well as the aftermath of a recession that has left many Americans with less money to spend.
Here are the 10 retailers with the fastest-growing sales in 2013…
Despite an overall slump in retail sales this year, some thriving stocks to watch have popped up - retailers that are growing sales, many in the double digits.
These retailers have done a better job of adapting to both the shift toward more online shopping as well as the aftermath of a recession that has left many Americans with less money to spend.
Here are the 10 retailers with the fastest-growing sales in 2013…
July retail sales data was flat, only up 0.1% from June.
The dismal July read was the weakest since January.
Here’s how that fits in to the overall U.S. economic recovery – or lack of…
U.S. retail sales - which account for 70% of economic activity - unexpectedly fell 0.4% for the month of January according to the Commerce Department today (Thursday). The decline marks the second straight drop after a 0.1% fall in December.
Auto sales were the major contributor to the miss. Sales of motor vehicles and parts dropped 2.1%, while Americans also spent less on restaurants and clothing. The report also showed soft holiday sales for retailers at the end of last year.
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The Commerce Department released its U.S. retail sales survey for December this morning (Tuesday) showing an unexpected increase - but does this gain have enough support to repeat in 2013?
Total retail sales were up by 0.5% compared with November, more than doubling the 0.2% average growth forecast by economists surveyed by Bloomberg.
The department noted U.S. retail sales would have been up by 0.8% if it had not been for a 14 cent-per-gallon decline in the average price of gasoline, which resulted in a 1.6% drop in sales at gas stations.
The increased U.S. retail sales came as an improved employment picture boosted incomes.
At the same time, housing prices are beginning to recover nationwide and this has led to an increase in housing construction activity. That's because a better outlook for housing construction means more demand for pickups and other light trucks.
"There's a big correlation between auto sales and housing starts," GM Treasurer Jim Davlin told Reuters. "The pickup truck market share is at historical lows. We would expect that to come back."
Sales of autos and auto parts were up by 1.6% month-on-month, the best performing category within the retail sector. December capped the best year for automobile sales since 2007.
U.S. retail sales excluding automobiles were up by 0.3%, also beating economists' estimates, compared with a 0.1% decline in November. Sales of furniture were up 1.4% from November while sales at clothing chains increased by 1.0%.
Core retail sales, which most closely correspond to the consumption component of gross domestic product (GDP,) also were up in December, by 0.6% after a 0.5% increase in November. Core retail sales exclude sales of automobiles, gasoline and building materials.
But the new tax law changes in 2013 threaten a continued recovery in U.S. retail sales...
