April furniture store sales drop 66.5% | Home Accents Today

WASHINGTON – Furniture and residential furnishings retailer gross sales plummeted in April, dropping practically 67% year-over-year, persevering with a development began in March, which noticed a revised 18.3% drop in gross sales within the wake of COVID-19.

Hit laborious by retailer closures made in an effort to stem the unfold of the COVID-19 coronavirus, the house furnishings sector posted solely $3.Three billion in gross sales for the month of April, based on the U.S. Department of Commerce report launched right this moment. In April of final 12 months, the sector posted $9.85 billion in gross sales for the month.

Sales for the month of April had been off 58.7% from a preliminary estimate of $7.99 billion in March, the latter determine was revised up from the previously reported $7.34 billion.

Sales for practically all sectors reported by the federal government fell considerably year-over-year and month-over-month. Overall, totals for the U.S. retail and meals providers industries had been off 21.6% from April a 12 months in the past to $403.9 billion and down 16.4% from March. Combined retail trades gross sales decreased 17.8% from a 12 months in the past and 15.1% from March.

Only three sectors posted good points for April, the best of which was non-store retailers, which incorporates e-commerce and catalog companies, up 21.6%. Following non-store retailers was meals and beverage shops, up 12%, and constructing materials and backyard gear and provides sellers, up simply 0.4% from final 12 months. Grocery shops, a subset of meals a beverage shops, was additionally up 13.2% year-over-year.

Sales declines for furnishings shops was second worst year-over-year, with clothes and clothes equipment shops coming in beneath the sector for the second month in a row with a lower of 89.3%. Month-over-month, clothes and clothes equipment shops holds its standing in final place with gross sales off 78.8%, however the electronics and equipment shops sector edged over furnishings and residential furnishings shops, down 58.7%, for second to largest lower with a 60.6% drop in April.

April’s totals have solely added to the general drops many sectors are experiencing of their first quarter, offsetting development seen in the course of the first two months of the 12 months for a lot of. After April’s gross sales, furnishings and residential furnishing shops are actually posting a 26.8% gross sales decline for the primary quarter year-over-year.