“Digging Deeper Into Skate and Surf Participation Growth” by Tiffany Montgomery via Shop Eat Surf (Executive Edition)

“Digging Deeper Into Skate and Surf Participation Growth” by Tiffany Montgomery via Shop Eat Surf (Executive Edition)

Please click on the following link to view this Shop Eat Surf News Article:  Digging Deeper Into Skate and Surf Participation Growth Please note that this article is a Shop Eat Surf Executive Edition article so you will need to sign up and pay for access before viewing. We, at BRA,  feel that the benefits of the SES Executive Edition Membership outweigh the cost. Be sure to visit the Shop Eat Surf website to view valuable Industry News and Resourceful Articles regularly via this link: Shop Eat Surf If you are not yet a BRA Retail Member, you can easily opt in to either Regular (no cost) or Distinguished ($99/yr.) Membership via this super simple join...
“Surging Sales Continue in Surf and Skate Shops” by Tiffany Montgomery via Shop Eat Surf

“Surging Sales Continue in Surf and Skate Shops” by Tiffany Montgomery via Shop Eat Surf

Strong sales in the core channel are showing no signs of slowdown as shoppers continue to embrace local retailers and the surf and skate lifestyle. According to the ActionWatch Retail Panel, year-to-date sales are up 89% vs. the same period in 2020. Click on the following link to view the rest of this informative Shop Eat Surf Article: “Surging Sales Continue in Surf and Skate Shops” Be sure to visit the Shop Eat Surf website to view valuable Industry News and Resourceful Articles regularly via this link: Shop Eat Surf If you are not already a BRA Retail Member, you can easily opt in to either Regular (no cost) or Distinguished ($99/yr.) Membership via this super simple join...
“Despite Monthly Decline, May Retail Sales Reach Near-Record Level” by Joe Keenan via Total Retail

“Despite Monthly Decline, May Retail Sales Reach Near-Record Level” by Joe Keenan via Total Retail

Retail sales remained at elevated levels in May despite month-to-month fluctuations that masked near-record performance, the National Retail Federation (NRF) said today. The Commerce Department reported on Tuesday that May retail sales declined 1.3 percent month-over-month. However, the industry’s largest trade association says the May sales data doesn’t tell the whole story. “While May retail sales were down slightly, largely due to supply chain constraints, the more accurate indicator remains in the year-over-year data which, as the NRF calculates, showed growth of over 17 percent,” NRF President and CEO Matthew Shay said. “For the first five months of this year, retail sales are already tracking 17.6 percent above the same five months of 2020, giving us further confidence in our newly revised sales forecast of growth between 10.5 percent and 13.5 percent to more than $4.44 trillion for 2021. While there are downside risks related to labor shortages, supply chain bottlenecks, tax increases and over-regulation, overall, households are healthier, and consumers are demonstrating their ability and willingness to spend.” Total Retail’s Take: The ominous headlines that May’s retail sales declined, suggesting a slowdown in the economy’s recovery, need to be taken with a grain of salt. The retail sector has recorded solid growth in the first five months of the year, driven by a combination of factors, including stimulus packages, increasing vaccination rates, and greater consumer confidence. The NRF is banking on those trends continuing for the second half of 2021, illustrated by its recently boosted annual sales forecast. “The YoY comparison shows a robust rebound in May,” says Naveen Jaggi, president, retail advisory services, JLL. “This summer, we can expect consumer confidence to continue to make gains as more...
“V-Shaped Recovery Hockey-Stick Growth – a Year Like No Other In Core Surf & Skate Retail” by Patrik Schmidle via ActionWatch.com

“V-Shaped Recovery Hockey-Stick Growth – a Year Like No Other In Core Surf & Skate Retail” by Patrik Schmidle via ActionWatch.com

March 2021 sales in US core channel grew +132% vs March 2020 Exactly one year ago core retailers were recovering from an April that saw a roughly 80% year-on-year (YoY) decline. April 2020 was arguably the most difficult month the surf and skate industry has ever had to endure. Retailers and brands alike were navigating local government mandates regarding store closures, implementing reopening measures, launching curb-side pickup services, conducting concierge shopping, beefing up on-line offerings, furloughing employees, and deciding what they should do about future orders. At the same time they were wondering if and when their PPP funding would finally arrive.  Fast forward one year and the biggest current concern is having enough inventory to meet the seemingly insatiable consumer demand.  The one consistent trend since June of 2020 was that anything related to hardgoods and wetsuits grew at unprecedented rates. In some months, these categories enjoyed more than 100% YoY growth. However, the soft goods categories slowed down the overall momentum as they declined -15% from 2019 to 2020. Source: Same-Store ActionWatch Panel 2020 vs 2019 All Categories Those trends carried over to the first two months of 2021 as supply chain challenges caused otherwise strong sales to plateau. As a result sales figures were comparable to January and February 2020. Then came March 2021.  Sales exploded, growing by +132% compared to March 2020. Even compared to March 2019 sales grew an astounding +37%. Source: Same-Store ActionWatch Panel 2020 to YTD March 2021 The 2021 March numbers are especially encouraging because the higher margin soft goods categories achieved very robust growth numbers. Across the board we recorded higher...
“Good news on vaccines, economy drives a sunnier view of retail at Moody’s” by Ben Unglesbee via Retail Dive

“Good news on vaccines, economy drives a sunnier view of retail at Moody’s” by Ben Unglesbee via Retail Dive

Dive Brief: Moody’s analysts see “broad-based improvement” ahead for the retail industry in 2021 as vaccinations grow and pressure from the COVID-19 pandemic eases, according to a recent report.The ratings agency lifted its industry outlook for retail to positive from stable based on a strong economic environment. Analysts now estimate operating profit to grow a “robust” 10% to 12% during the year.Those sectors hit hardest last year have some of the most room for growth, including apparel, department stores and off-price, the analysts said. Dive Insight: The Moody’s report comes on the heels of good general economic news. During the first quarter of 2021, the economy grew at an annualized rate of 6.4%, driven by consumer spending, government stimulus, residential investments and other factors, according to the Bureau of Economic Analysis. Meanwhile, the latest four-week average for jobless claims hit their lowest point since March 14, 2020, a sign that the general business environment is finally normalizing as inoculations against COVID-19 increase.  Vaccinations not only hold the promise for returning shoppers back to malls and other centers, but they can also open up the world more broadly. Office work, conferences, parties, weddings, travel, in-person school — are all poised for a comeback as COVID-19 cases decrease. And all of those things might help drive apparel and other retail spending.  It’s great news for the hardest hit retailers from the pandemic. S&P Global Ratings, for instance, raised its outlook for department store giant Macy’s this week. Analysts with S&P also cited a fast-improving economy and an expected apparel comeback in lifting the outlook for Macy’s, which was downgraded multiple times last year and posted a nearly $4...
“Retail sales explode in March as consumers use stimulus checks to spend heavily” by Jeff Cox via CNBC

“Retail sales explode in March as consumers use stimulus checks to spend heavily” by Jeff Cox via CNBC

KEY POINTS Retail sales boomed 9.8% higher in March thanks to a jump in spending at bars and restaurants as well as multiple other groups.Economists already had been expecting a gain of 6.1% as consumers received their $1,400 government stimulus checks.Jobless claims added to the good economic news, with first-time filings for unemployment insurance plunging to 576,000, easily the best week since the beginning of the Covid-19 pandemic. View CNBC VIDEO by clicking link below https://player.cnbc.com/p/gZWlPC/cnbc_global?playertype=synd&byGuid=7000186441 Retail sales surge in March as consumers use stimulus checks A fresh batch of stimulus checks sent consumer purchases surging in March as the U.S. economy continued to get juice from aggressive congressional spending. Advance retail sales rose 9.8% for the month, the Commerce Department reported Thursday. That compared to the Dow Jones estimate of a 6.1% gain and a decline of 2.7% in February. Sporting goods, clothing and food and beverage led the gains in spending and contributed to the best month for retail since the May 2020 gain of 18.3%, which came after the first round of stimulus checks. A separate report showed first-time filings for unemployment insurance plunged, with the Labor Department reporting 576,000 new jobless claims for the week ended April 10. That was easily the lowest total since the early days of the Covid-19 pandemic and represented a sharp decline from the previous week’s total of 769,000. The Dow Jones claims estimate was 710,000. As the jobs picture brightened, consumers took their $1,400 stimulus checks and spent aggressively. The money came courtesy of the nearly $1.9 trillion American Rescue Plan Act that Congress passed in March. The legislation...