Retail sales crater record 16.4% in April

[catfish1957]

Reference Market Watch web site....

https://www.marketwatch.com/story/retail-sales-crater-record-16-in-april-amid-coronavirus-lockdowns-and-spending-slump-2020-05-15?mod=metals-mining

<snipit>

The numbers: Sales at U.S. retailers sank a record 16.4% in April after coronavirus lockdowns shuttered much of the economy, cost millions of jobs and spawned an unprecedented slump in consumer spending.

Retail sales tumbled in every category except online shopping, the government said Friday. Sales also sank by a revised 8.3% in March, easily marking the worst back-to-back declines in modern American history.

Economists polled by MarketWatch expected a 12.5% plunge............
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Market futures down generally 1%, Gold up to $1760/oz. , oil up nearly 4%

Sharper retail drop than expected also means that some of the upcoming earnings reports might miss estimates.  Some choppy seas ahead.  VIX futures (volatility) up about 6%.   

[Applewood]

Retail sales tumbled in every category except online shopping

IMO. the virus and the resulting lockdowns will kill off what's left of brick and mortar stores.  Actual stores and for many, the malls they reside in, have been failing for a long time.  Stay home orders have caused a number of people who previously would not shop online to try it out and I think most of them have found they like the idea of shopping from home.  I for one will miss the physical stores for such items as appliances, but for a lot of everyday items, shopping online sure beats having to get dressed and go to the store, fight crowds, deal with surly salespeople and maybe risk getting mugged or worse. 

[Fishrrman]

Applewood wrote:
"I for one will miss the physical stores for such items as appliances..."

Seems like Home Depot and Lowes have taken up the slack insofar as appliances go -- at least in my area (CT). There may be other large "home improvement chains" in other areas that offer the same.

I've bought Sears/Kenmore washers/dryers over the years, but I believe all the units I bought were just re-brands of appliances by Whirlpool (these available at the above stores).