Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required.
Password is required.
U.S. General Merchandise Unit Sales Fell 7% in April, as Retail Revenue Declined 1%, Reports NPD
As demand softens, the retail product mix needs to attract both value seekers and premium buyers
The consumer’s willingness to spend has been crucial to maintaining a healthy level of retail performance throughout the pandemic, but demand has been softening for several months. April 2022 U.S. general merchandise unit sales were 7% lower than a year ago, creating a 1% decline in sales revenue, according to The NPD Group.
“Higher retail prices have buffered demand declines but their escalation, combined with rising gas prices..."
More Consumers Hunting for Bargains this Easter
Consumers plan to spend an average $169.79 this year on Easter-related items, according to results of the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. A total of 80 percent of Americans will celebrate the holiday and spend a collective $20.8 billion, down slightly from last year's forecast of $21.6 billion.
“Consumers are eager to return to their pre-pandemic holiday traditions, particularly as it relates to purchasing food and gifts for in-person celebrations this Easter,” said NRF President and CEO Matthew Shay...
Oil Prices Slump As UAE Signals Support for Increased Output by OPEC
Russia’s invasion of Ukraine has incessantly continued since it began on February 24. Multiple attempts by delegates from Ukraine for a ceasefire have failed, spurring a mass exodus of over 2 million refugees from Ukraine.
Oil prices have surged this month on exacerbated supply chain interruptions amid the Russia-Ukraine war. Brent crude oil, the international benchmark, climbed to $139 barrel on Monday, the highest level since 2008. On Wednesday, however, Brent crude oil slumped by 13% to $111.10 per barrel, posting its steepest one-day decline in about two years.
The decline was propelled by indications of U.S. progress in its efforts to increase oil production from other sources. On Wednesday, Secretary of State Antony Blinken encouraged statements from the United Arab Emirates that they support increased oil production by OPEC+, a group of 13 oil-exporting nations...
What the U.S. Ban on Russian Oil Could Mean for U.S. Consumers
On Tuesday, President Biden announced a U.S. ban on Russian oil and gas imports as a measure to target “the main artery of Russia's economy”. The ban also applies to Russian coal, according to the White House briefing.
"We're banning all imports of Russian oil and gas energy. That means Russian oil will no longer be accepted in U.S. ports, and the American people will deal another powerful blow to Putin's war machine," said Biden.
The ban coincides with record-high gas prices, not adjusted for inflation. According to AAA, the national average climbed to $4.25 a gallon today, up 8 cents from yesterday and a 16.3% increase from the week-ago figure. Consumers have not seen gas prices this high since the summer of 2008. Californians are currently facing the largest expense at $5.57 per gallon on average...
U.S. Bans Imports of Russian Oil, Natural Gas, and Coal
Earlier today, President Biden announced that he will sign an Executive Order to "ban the import of Russian oil, liquefied natural gas, and coal to the United States". The sanction against Russia is a result of "widespread bipartisan support that will further deprive President Putin of the economic resources he uses to continue his needless war of choice".
According to a fact sheet released by the White House, today's Executive Order bans:
NRF Chief Economist Says Inflation Isn’t Hitting Everyone the Same, but Will Still Play a Key Role
Inflation is at a 40-year high but isn’t hitting all consumers as hard as top-line numbers might suggest, National Retail Federation Chief Economist Jack Kleinhenz said today. Nonetheless, consumer worries about rising prices could become self-fulfilling if workers demand higher wages to compensate and will play a role in the Federal Reserve’s efforts to bring inflation under control.
“After decades of relatively low levels, inflation is on everyone’s mind and has been making consumers and businesses..."
Protein Markets Contend with More Than Just "Seasonal" Issues Heading Into Q4
ANALYSIS: Shell Egg Prices Crack New Record Highs Amid Strong Demand, Depleted Inventories
This Week in Retail: Seasonal Trends Start to Shift
Urner Barry Releases September Soy & Wheat Report
Urner Barry Releases September Pulse Protein Report