CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
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
Editors' Picks
Sponsored by
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
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
MajorsApr 20, 2026
Kendra Scott Names New CFO, Chief Business OfficerThe jewelry retailer plans to open 20 new stores this year and expand into new product categories.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
FinancialsApr 15, 2026
Kering’s Jewelry Shines in Q1, Gucci’s Struggle ContinuesThe luxury giant discussed the Middle East conflict and its transformation plans, hinting at a stronger jewelry presence in North America.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
