Events & AwardsJun 06, 2025
Here Are the 2025 Retailer Hall of Fame InducteesThis year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.
SurveysJun 17, 2020
May Retail Sales Climb 18% as Businesses Reopen
Though monthly spending improved in May, retail sales were down 6 percent year-over-year.
U.S. retail sales were up 18 percent month-over-month in May, according to data from the U.S. Department of Commerce.
New York—U.S. retail sales improved in May compared with April as coronavirus restrictions eased and businesses began to reopen.
Retail sales, including food sales, climbed 18 percent month-over-month in May to $485.5 billion, according to data released by the U.S. Department of Commerce Tuesday morning.
The results follow a 15 percent drop in April and an 8 percent drop in March, according to revised statistics.
The results surpassed analyst estimates of an 8 percent increase and marked the highest month-over-month jump in U.S. retail sales ever.
The May results are less rosy when compared year-over-year, as they are down 6 percent from May 2019.
In an interview with CNBC’s Squawk Box Tuesday morning, National Retail Federation CEO Matthew Shay said the sales report “is very encouraging news.”
“These sales numbers do not reflect the same strength we had going into the pandemic, but they certainly reflect the trajectory we need coming out of it,” he said.
Stimulus money and supplemental unemployment checks coupled with “pent-up demand” drove consumer spending, NRF Chief Economist Jack Kleinhenz said in a press release.
He noted, however, that month-over-month comparisons between April and May need to be viewed in context because most nonessential businesses were shut down for all of April.
He said the results may be “questionable” as many retailers were closed and unable to respond to the monthly survey of sales data.
“Spending has improved considerably but it’s still far below where it was a year ago, and while the freefall in consumer confidence is over, unemployment remains high and confidence is still at recession levels,” he said.
Two important factors to monitor, he said, are the trajectory of unemployment and the direction of the virus.
Kleinhenz said a turnaround may be ahead in the third quarter, but a second wave of COVID-19 could spook consumers.
The NRF also calculates monthly retail sales, narrowing in on core retail and excluding auto sales, gas stations, and restaurants.
Its calculations show May sales were up 11 percent seasonally adjusted from April and up nearly 2 percent unadjusted year-over-year.
Looking at the commerce department’s data by category, clothing and accessories stores saw the strongest sales gains in May, up 188 percent month-over-month.
Furniture and sporting goods, and hobby, musical instrument and book stores followed, both up 90 percent.
The year-over-year gains from retailers that remained open, like grocery and drug stores, as well as online sales were offset by declines in other categories, said NRF.
Though increased foot traffic
shows consumers are returning to shop, Kleinhenz said expects “to remain on a roller coaster for a while” and said a full recovery is “still a long way off.”
At his semiannual monetary policy report before Congress, Federal Reserve Chairman Jerome Powell echoed a similar sentiment and added there was “significant uncertainty” surrounding the pace of economic recovery.
“Much of that economic uncertainty comes from uncertainty about the path of the disease and the effects of measures to contain it. Until the public is confident that the disease is contained, a full recovery is unlikely,” he said.
Powell pointed to small businesses as being especially at risk.
“If a small or medium-sized business becomes insolvent because the economy recovers too slowly, we lose more than just that business,” he said. “These businesses are the heart of our economy and often embody the work of generations.”
The Federal Reserve’s Main Street lending program kicked off Monday, which supports lending to small and mid-sized businesses.
Small to mid-sized businesses are defined as those with 15,000 employees or fewer or those with business revenues of $5 billion or less.
Powell said the Fed will do what it can to help the country’s recovery, but did not outline any specific policies.
At his semiannual monetary policy report before Congress, Federal Reserve Chairman Jerome Powell echoed a similar sentiment and added there was “significant uncertainty” surrounding the pace of economic recovery.
“Much of that economic uncertainty comes from uncertainty about the path of the disease and the effects of measures to contain it. Until the public is confident that the disease is contained, a full recovery is unlikely,” he said.
Powell pointed to small businesses as being especially at risk.
“If a small or medium-sized business becomes insolvent because the economy recovers too slowly, we lose more than just that business,” he said. “These businesses are the heart of our economy and often embody the work of generations.”
The Federal Reserve’s Main Street lending program kicked off Monday, which supports lending to small and mid-sized businesses.
Small to mid-sized businesses are defined as those with 15,000 employees or fewer or those with business revenues of $5 billion or less.
Powell said the Fed will do what it can to help the country’s recovery, but did not outline any specific policies.
More on Surveys
The Latest
CollectionsJun 06, 2025
Piece of the Week: Harwell Godfrey’s ‘Granny Squares Eleanor’ Necklace As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.
Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design AtelierDiscover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry BusinessWhen investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las VegasThe “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.
Weekly QuizJun 05, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
MajorsJun 05, 2025
Platinum Guild International Updates Leadership TeamTwo existing executives have been given new roles.
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship RecipientMeredith Tiderington, an electrical engineering student, was selected for the award.
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown DiamondsIt will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 SessionsFrom design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.Her new role is director of strategic initiatives.
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into GoldThe designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.
FinancialsJun 03, 2025
Signet Jewelers Sees Turnaround in Q1 With Sales Ticking Up 2%On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand AmbassadorThe actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade ReportsThe company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."
SourcingJun 02, 2025
Gemfields’ June Auction to Include 36-Carat RubyThe large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.
GradingJun 02, 2025
GSI Opens New Lab in Thailand Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June Those born in June have a myriad of options for their birthstone jewelry.
SourcingJun 02, 2025
David Allouche Joins Grandview Klein DiamondsThe diamond industry veteran has been named its senior sales executive.
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment The company plans to raise the prices of select watches to offset the impact of tariffs.
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable EnvironmentBetween tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ NecklaceDesigned by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs InvalidHowever, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry LineThe pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by StullerSponsored by Stuller
