Hardware Retailing The Industry's Source for Insights and Information
Retail sales grew in April as consumers moved up buying to avoid higher prices expected to come after tariffs, according to the National Retail Federation’s CNBC/NRF Retail Monitor.
Seasonally adjusted building lawn and garden sales increased in April by 2.8% over the previous month. Despite the April increase, year-over-year (non-adjusted) sales in the category were down 2.1% through April, mostly dragged down by a very soft February.
“Spending rose again in April, driven largely by consumers continuing to pull purchases forward to stay ahead of tariffs that will inevitably lead to higher prices,” says NRF president and CEO Matthew Shay. “Despite declines in confidence caused by the economic uncertainty that has come with tariffs, consumer fundamentals remain intact, supported by low unemployment, slower-but-steady income growth and solid household finances. Consumers maintain their ability to spend and have strong reasons to spend now before tariffs can drive up prices or cause shortages on store shelves.”
