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Monthly sales down 0.4% in January

BY HBSDEALER Staff

The U.S. Census Bureau released its monthly retail and food services sales report Thursday, which pointed to a slight setback of 0.4% for the month but a 2.6% gain over January of last year.

Weather was partly to blame for the dip, according to the National Retail Federation.

At $427.8 billion, total sales for the month fell below December’s, which also received a downward revision from 0.2% above November sales to 0.1% below month-ago figures.

Excluding food service, retail trade sales were down 0.4% month-over-month, but 2.6% above last year.

Building material and garden equipment and supplies dealers (NAICS 444) brought home an adjusted figure of $26.4 billion in January, up from December’s $26.0 billion. This reflects a 1.4% improvement for the month and a 3.7% improvement for the year.

"Following a solid holiday sales season, it seems that many consumers decided to take a break from the stores and shopping malls this January in an attempt to avoid winter weather,” NRF President and CEO Matthew Shay said. “While the dip in retail sales was somewhat anticipated, it is concerning that both jobless claims came in above projections and that consumer spending were flat in January – it’s not the way to kick off a new year."

 

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HCN Stock Watch: VAL gets some nice wind

BY HBSDEALER Staff

Valspar (VAL) shot up 6.29% on Wednesday following the release of a positive earnings report. SHLD, BLDR and AWI received big boosts as well.

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HD gives $7,000 to San Diego veterans group

BY HBSDEALER Staff

The Home Depot Foundation has awarded a $7,000 grant to San Diego’s Veterans Community Services (VCS) for a community renovation project at their main office.

Veterans, Team Depot and VCS volunteers will paint walls, replace doors and build shelving units on February 27, preparing the space to host meetings and supportive services programs, as well as serve as a donation center.

VCS provides various services to low-income veterans, including rapid rehousing, homelessness prevention, counseling, financial planning, employment search and referrals, and other aid.

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