Retail sales at sporting goods, hobby, book and music stores fell in May, according to advance estimates of U.S. retail sales released by the U.S. Census Bureau Thursday. The estimates, which will be revised twice in coming months, indicate consumers shifted spending toward cars, furniture and other larger ticket items rather than leisure as the weather warmed.
Census estimated sales by sporting goods, hobby, book and music stores reached $6.75 billion in May, down 0.1 percent from April and down 1.5 percent from May 2013, after adjusting for differences in the retail calendar. By comparison, adjusted sales at department and other general merchandise stores in May declined -1.4 percent from April and -2.0 percent from May 2013. At clothing and clothing accessories stores, adjusted sales declined 0.6 percent from April and were up 1.4 percent from May, 2013. Adjusted sales by online, catalog and other non-store retailers rose 0.6 percent from April and were up 7.4 percent from May 2013.
Advance estimates provide the government's first estimate of monthly U.S. retail sales. They are based on a survey of 5,000 retail and food services firms and will be revised twice in coming months as more data becomes available. So-called "adjusted estimates" seek to exclude the impact of changes in the selling calendar from one month, quarter or year to the next, but do not adjust for changes in prices.
