2016-05-13 — wsj.com
While data from the Commerce Department on Friday showed overall retail sales rose 1.3% in April from a month earlier, the category that includes shopping on Amazon.com Inc. and rival websites and apps grew 2.4%. And in the past year, Internet and catalog sales have grown more than three times as fast as overall sales, up 10.2%. Department-store sales, meanwhile, sank 1.7% over the past 12 months.
When shoppers do visit malls, they are increasingly spending money on entertainment such as movies and bowling and services such as hair salons and fitness centers, according to Liz Holland, chief executive of Abbell Associates, a real-estate redevelopment firm. Despite Amazon's rise, not all traditional retailers are struggling. Fast-fashion chains such as H&M Hennes & Mauritz AB have been posting strong sales recently, as have specialty retailers like Foot Locker Inc.
Comments: Be the first to add a comment
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.