Furniture, electronics store sales fall in October
OTTAWA – Furniture store sales fell for the second consecutive month in October 2018, according to the latest figures from Statistics Canada. Also falling for the second straight month were electronics and appliance store sales, although home furnishing store saw sale climb for the second consecutive month.
The agency reports that actual furniture store sales were $927.0 million for October, down from $980.0 million in September and $1.05 billion for August. They were also down 4.5% from the $970.6 million rung-up in October 2017.
Sales for ten months ending 31 October were set at $9.44 billion, a meagre 0.6% higher than the $9.39 billion for the same period of 2017.
Most outside observers have attributed the uneven sales performance of Canadian furniture stores in 2018 to the volatility in the housing market as both starts and resale activity have softened over the course of the year.
Meanwhile, home furnishings stores – which sell everything from floor covering to lamps and lighting, decorative accessories and wall art – saw its sales for October pegged at a preliminary $613.8 million, up from $601.0 million in September and up 3.2% from the $595.1 million for October 2017.
For the year-to-date, home furnishing store sales totalled $5.66 billion, a slight 1.2% advance from the $5.60 billion recorded for the first ten months of 2017.
Electronics and appliance store sales also fell for the second straight month in October, when they were set at a preliminary $1.26 billion, compared to $1.38 billion in September and $1.42 billion in August. However, they were up 3.7% from the $1.22 billion rung-up in October 2017.
They were also up 9.4% for the year-to-date at $12.7 billion, compared to $11.6 billion for the same period in the prior year.
Except for gas stations, location retail continued to see modest growth during the opening of the fourth quarter – traditionally it’s most important as it culminates in the Holiday Seasons. All location retail saw actual sales of $51.8 billion in October, a year-over-year gain of 2.3%.
For the year-to-date, sales were $499.3 billion, a gain of 3.3%.
Take out gas stations and car dealerships and the total falls to $31.6 billion for the month of October, a gain of 2.4% over the $30.9 billion for the same month in 2017.
For the year-to-date, sales were $303.9 billion, up 2.6% from 296.1 billion.