U.S. retail sales dropped by 8.6% year over year in April when excluding autos and gasoline. That’s been due to COVID-19 residential and commercial lockdowns. Clothing and electrical retailers saw volumes drop by 85.8% and 68.3% respectively while non-store retailers, including e-commerce sites such as Amazon, climbed 24.0% higher. U.S. imports of electrical appliances and consumer electronics fell by just 6.2% year over year in April, indicating a risk of ballooning inventories for retailers. Imports linked to Best Buy dropped by just 10.0% in April, though that followed a 50.6% slump i...
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