Retail

Retail recovery is uneven, National Retail Federation CEO says

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As retail sales pick up again, National Retail Federation CEO Matthew Shay said he wants to make sure small and mid-sized stores and restaurants can make a comeback, too.

“They get hit harder and they get hit first and so we need to bring them back quickly,” he said on CNBC’s “Squawk Box.”

Retail sales jumped by 17.7% in May, the Commerce Department said Tuesday morning. That includes customers’ online purchases, as well as those at brick-and-mortar restaurants, bars and stores.

Shay said he’s encouraged to see customers spending again as stay-at-home orders lift. After sheltering in place during the coronavirus pandemic, he said “there was significant pent-up demand” among Americans,…



Source cnbc.com

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