According to the U.S. Department of Commerce, sales in the U.S. retail industry increased by 7.5% month-on-month in June, with the apparel and accessories industry rebounding the most strongly. After a month-on-month surge of 188% in May, sales continued to increase by 105% month-on-month in June, and fell year-on-year. 23.2%; in addition, home furniture increased by 32.5% month-on-month, department stores increased by 19.8% month-on-month, and large supermarkets increased by 2.7% month-on-month, with retail sales returning to nearly 80% of the pre-epidemic level. With the reopening of physical stores, e-commerce sales have declined, down 2.4% month-on-month.
The details of the major retail industries in the United States in June are as follows:
◆Clothing and accessories stores: a month-on-month increase of 105.1% and a year-on-year decrease of 23.2%.
◆Home furniture stores: a month-on-month increase of 32.5% and a year-on-year decrease of 3.5%.
◆Department stores: a month-on-month increase of 19.8% and a year-on-year decrease of 10.6%.
◆Large supermarkets: a month-on-month growth of 2.7% and a year-on-year growth of 2.5%.
◆Electronic stores: a month-on-month increase of 37.4% and a year-on-year decrease of 12.7%.
◆Sports, music and other hobby stores: a month-on-month increase of 26.5% and a year-on-year increase of 20.6%.
◆Restaurants and bars: a month-on-month increase of 20% and a year-on-year decrease of 26.3%.
◆Gas stations: a month-on-month increase of 15.3% and a year-on-year decrease of 19.1%.
◆Grocery stores: a month-on-month decrease of 1.6% and a year-on-year increase of 11.7%.
◆Online retailers: a month-on-month decrease of 2.4% and a year-on-year increase of 23.5%.
The latest news from US brand merchants and retailers:
★ Bed Bath & Beyond
In order to reduce the cost of goods, BBB will re-engage with Suppliers negotiate prices. BBB said in the report that the company’s goal is to reduce the cost of goods by $200 million annually. To accomplish this goal, BBB will negotiate new pricing terms with suppliers. BBB’s announcement of this major move will mean that suppliers must make concessions to BBB before the company can purchase goods for the upcoming year-end holiday season.
★Brooks Brothers
According to Bloomberg, thanks to numerous bids from buyers, Brooks Brothers has received an $80 million loan to finance the Support the brand to continue operating and pay various debts while it searches for a buyer. It is reported that the loan will be provided by Authentic Brands Group LLC and ABG-BB LLC, a partner of the mall landlord Simon Property Group. The loan will have an interest rate of 0 and no transaction fees.
★PVH
PVH Group, the American clothing giant that owns Calvin Klein, Tommy Hilfiger and other brands, recently announced that it plans to lay off 450 employees in North America and Closed 162 stores to better control costs and respond to the epidemic crisis. In the first fiscal quarter ending on May 3, PVH Group’s sales fell 43% to US$1.257 billion, with a net loss of US$1.1 billion. During the period, Tommy Hilfiger’s sales fell 39% to US$615 million, and Calvin Klein’s sales dropped 46% to US$426 million
★J.C. Penney
U.S. department store retailer J.C. Penney said on Wednesday that as part of its organizational restructuring, the group will lay off approximately 1,000 employees and close 152 stores. CEO Jill Soltau said that with the continuous development of the retail industry after the epidemic, the group will focus on products and experience in the future to better consolidate its core competitiveness.
★Levi’s
In the second fiscal quarter ending on May 24, sales of Levi’s parent company Levi Strauss fell 62% year-on-year to 4.975 billion, with a net loss of US$363.5 million. By region, sales in the American market fell 59% year-on-year to US$283 million, the European market fell 68% to US$129 million, and the Asian market also fell 61% to US$86 million. </p
