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US retail sales plummeted to a record 16% in April as a coronavirus struck

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US retail sales plummeted to a record 16% in April as a coronavirus struck

US retail sales plummeted by a record 16.4% from March to April because business shutdowns caused by coronavirus drove buyers away, threatening the survival of stores across the country and further weighing on a sinking economy.

Friday’s Commerce Department report on retail purchases showed the sector had collapsed so quickly that sales over the past 12 months fell a crippling 21.6%. The severity of the decline is unmatched for retail figures that go back to 1992. The monthly decline in April nearly doubled the previous record decline of 8.3% – set just one month before.

“It’s like a storm coming and leveling the entire economy, and now we are trying to make it back up and running,” said Joshua Shapiro, chief US economist for consultant Maria Fiorini Ramirez.

Shapiro suggested that retail sales should recover slightly when states and regions reopen their economies. But he said overall sales would remain depressed “because there will be a large number of lost jobs that don’t return.”

The sharpest decline from March to April occurred in clothing, electronics and furniture stores. The old migration of consumers to online purchases is accelerating, with the segment posting a 8.4% increase every month. Measured from year to year, online sales jumped 21.6%.

Apart from being online, no retail categories were avoided in April. Car dealers experienced a monthly decline of 13%. Furniture stores absorb 59% risk. Electronics and equipment stores dropped more than 60%. Retailers selling building materials posted a decline of around 3%. After panicking buying in March, wholesale sales fell 13%.

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Clothing store sales plummeted 79%, department stores 29%. Restaurants, some of which have begun to close permanently, have decreased by almost 30% despite an aggressive shift to food delivery and delivery orders.

For the staggered retail sector, free fall in spending again poses a big risk. Department stores such as Neiman Marcus and J. Crew have filed for bankruptcy protection. Hotels, restaurants and car dealers are in danger. Nearly $ 1 of every $ 5 spent at retailers last month goes to non-store retailers.

Retailers are being threatened not only by the closure of businesses mandated by states and localities but also by the loss of a record 36 million jobs over the past two months. Unemployed usually pulls back sharply on retail purchases.

April analysis by a group of academic economists found that a one-month closing can remove 31% of non-wholesale retailers. Four-month closure can force 65% to close.

The fall in retail spending is the main reason why the US economy is contracting. Purchases at retailers are a major component of overall consumer spending, which triggers around 70% of economic activity.

With some Americans shopping, traveling, eating or shopping normally, economists project that gross domestic product – the widest measure of economic activity – shrank in the April-June quarter at an annual rate of around 40%. That would be the deepest quarterly decline on record.

Expenditures tracked by Opportunity Opportunities indicate that consumer spending may have reached its lowest point around mid-April before starting to rise slightly, at least in the general clothing and merchandise category. But spending on transportation, restaurants, hotels and arts and entertainment remains very depressed.

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Credit card purchases tracked by JPMorgan Chase found that expenses for necessities such as food, fuel, telephone services, and car repairs fell by 20% annually. Conversely, spending on “things that are not important,” such as eating out, plane tickets and personal services such as salons or yoga classes, dropped by 50% worse.

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A BOLA – Bruno Gama (Aris Thessaloniki) scored a goal on smiling Sunday for the Portuguese (Greece).

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A BOLA - Bruno Gama (Aris Thessaloniki) scored a goal on smiling Sunday for the Portuguese (Greece).

Portuguese striker Bruno Gama (incumbent) scored the only goal in the 41st minute win over Aris Thessaloniki, who earned three points against Asteris Tripolis in the 12th round of the Greek Super League.

Former FC Porto player nicknamed Juan Iturbe mini messiRecall that having chosen the Paraguayan nationality, he left the bench and replaced the Argentinean Daniel Mancini in the 69th minute, and the hero of the match, the Portuguese, the hero of the match, left the field at the same moment, he was replaced by the Argentinean Mateo Garcia.

In the main match of the day against AEK Atenas, who took 2nd place and hosted the eternal rival Panathinaikos, Portuguese midfielder Andre Simoes started for the home team (was yellow in the 34th minute), who won 1-0 from Polish midfielder Damian Szymanski on second minute of the match.

The striker Dalsio, winner of the 10th jersey of Ionianikos, also participated in a 3-2 home win against PAOK Thessaloniki. Away Portuguese player Vieirinha was expelled, but some familiar faces of Portuguese football played a role, such as Serbian striker Andrija Zivkovic, ex-Benfica, Nigerian midfielder Anderson Esiti, ex-Estoril and Leixoins, as well as the central player from Cape Verde. captain, Fernando Varela, ex-Fairense and Trofense.

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The newspaper highlights the “tight rope” in the relationship between Jorge Jesus and Benfica

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The newspaper highlights the "tight rope" in the relationship between Jorge Jesus and Benfica

Portuguese newspaper A Bola stressed that the relationship between Jorge Jesus and Benfica is not the best, as the coach is not achieving satisfactory results. Last Friday 03, the club lost 3-1 at home in the derby against Sporting.

“It is not only the connection between the club and the coach that will be evident after the events at Estádio da Luz. Even the continuation of Jesus’ life until the end of the season may be jeopardized, given the results, quality or lack of It follows that about the presented football and, above all, about the relationship with the fans who were seriously injured, ”wrote the car.

Also, according to the newspaper, JJ’s position is unstable, not least because the man who bet on him, Luis Filipe Vieira, is no longer at the club. In addition, the coach had to face a serious challenge from the public during the defeat in the derby.

However, if the team succeeds in the challenges ahead in December, then coach continuity through the end of the season can be guaranteed. The match between Benfica and Dynamo Kiev at the Estadio da Luz stadium, which will take place next Wednesday, August 8, will be an excellent indicator of the future of Jesus at the club.

It’s worth mentioning that JJ is one of the most coveted names in Flamengo, who will lead the team in 2022. In 2019, Jesus led the Brazilian team in the conquest of Brasileiran and Libertadores.

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The lucky winner of the evening of the Foundation of the Mayors of Terry and Strauben received a holiday in Portugal

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The lucky winner of the evening of the Foundation of the Mayors of Terry and Strauben received a holiday in Portugal

Michael Daly is the Everglades Star Award Winner. Received a voucher for Terry Airport to Al Korve this summer from Travel Solutions, Northern Ireland’s leading tour operator, which includes seven nights at Aratlandico Apartments in Albuquerque.

It was part of a rally held tonight with all proceeds from Mayor’s Charity – the Foyle Down Syndrome Foundation.

Councilor Graeme Varkey, Mayor of Terry and Straben County Council, congratulated Michael on his great trip and thanked Travel Solutions for their support.

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Sarah Simpson and Michael Daly, Travel Solutions Holiday winners for the Portuguese Mayor’s Christmas Fund on behalf of the Foyle Down Syndrome Foundation, welcome Alderman Graham Wark and Robert Wilson and Terry Airport CEO Steve Fraser of Travel Solutions.

“We had a wonderful Christmas Eve night in honor of the Mayor’s Foundation and it was the perfect decision to give Portugal this incredible star gift to our winner, Michael Daly.

“I would like to congratulate you and express my gratitude to Travel Solutions for their generosity and kindness in making this gift and in turn for their support of the Foyle Down Syndrome Foundation. We are raising a lot of money for this very useful business.

“I know that many have missed the opportunity to enjoy a good vacation over the past two years, so I thank Travel Solutions again for their support and hope that next summer Michael will enjoy his sunshine gold at Alcarve.”

Julie Magill, CEO of Travel Solutions, said: “We would like to thank the Mayor for giving us the opportunity to support the Fund’s fundraising efforts. We are proud to be part of this epic night.

Terry Airport Managing Director Steve Fraser added: “I am honored to be part of this inspiring event and to support the Foyle Down Syndrome Foundation at our local community center in the Northwest. We are delighted to partner with our partner Travel Solutions to deliver this wonderful vacation package, as well as our flight partner Loganier, who, as always, is very kind to provide the airlines with gifts in support of this well-deserved cause. Special thanks to the Mayor and the staff of the Terry City and Strauben District Council for their continued support throughout the year for organizing such a wonderful evening.

Other gifts for the evening include two return flights from Loganeer-sponsored Terry Airport to London Stansted, Liverpool or Glasgow; Ipod; Overnight at the Benedict Hotel in Belfast; Restaurant vouchers; And much more.

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