Hardware Retailing The Industry's Source for Insights and Information
Retail sales grew in April as consumers prepared for the higher prices expected because of the tariffs, according to the National Retail Federation’s CNBC/NRF Retail Monitor.
Sales for building and garden supply stores were up 2.77% month over month seasonally adjusted but down 2.1% year over year unadjusted.
“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 Matthew Shay, NRF president and CEO. “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.”
