• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998

3

Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998

3

Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
FinanceEconomy

Retail sales disappoint in April, unchanged from previous month

By
Anne D'Innocenzio
Anne D'Innocenzio
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Anne D'Innocenzio
Anne D'Innocenzio
and
The Associated Press
The Associated Press
Down Arrow Button Icon
May 15, 2024, 9:21 AM ET
A customer checks out of a Walmart store in Englewood, Colo.
Retail sales were flat.David Zalubowski—AP Photo
Add Fortune on Google for similar content.

Retail sales in April were unchanged from March as inflation continued to sting and elevated interest rates made taking on debt more burdensome.

Recommended Video

The number, which came in well below economists’ expectations, followed a revised 0.6% pace in March, according to Commerce Department data released Wednesday. It rose 0.9% in February. That comes after sales fell 1.1% in January, dragged down in part by inclement weather.

Excluding gas prices and auto sales, retail sales fell 0.1%

Online sales were down 1.2%, while business at electronics stores was up 1.5%. Sales at home furnishings stores slipped 0.5%.

The data offers only a partial look at consumer spending because it excludes things like travel and lodging. However at restaurants, the lone service category tracked in the monthly retail sales report, sales rose 0.2% from March.

There have been some hints that the Federal Reserve’s campaign to cool inflation by reining in spending may be taking hold. Employers pulled back on hiring in April adding 175,000 jobs, still a solid number, but down sharply from the surprisingly strong 315,000 hires in March.

Still, inflation remains a concern.

Consumer inflation in the United States cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve as well as President Joe Biden’s re-election team.

Prices rose 0.3% from March to April, the Labor Department said Wednesday, down slightly from 0.4% the previous month. Measured year-over-year, inflation ticked down from 3.5% to 3.4%. And a measure of underlying inflation, which excludes volatile food and energy costs, also eased in April.

Inflation had been unexpectedly high in the first three months of this year after having steadily dropped in the second half of 2023. The elevated readings had dimmed hopes that the worst bout of inflation in four decades was being rapidly tamed. That has weighed on consumer confidence.

U.S. consumer sentiment fell in May to the lowest level in six months with the leading cause cited by Americans being inflation and interest rates, as well as rising anxiety about unemployment despite the very health job market.

Just how Americans are spending offers some clues about their mindset in this environment of plentiful jobs and higher costs. Spending online rose 7% for the first four months of the year, according to Adobe Analytics, but a lot of that money is going towards cheaper versions of personal care goods, electronics, clothing, furniture and groceries.

People continue to spend, but increasingly they’re looking for bargains.

The share of sales for the cheapest apparel online jumped from 36% in April 2019 to 53% in the same month this year, according to Adobe, while the market share of the most expensive apparel was more than halved, making up just 9% in the same time frame.

That trend is playing out in the most recent quarterly financial reports from retailers.

Home Depot, the nation’s largest home improvement retailer, said Tuesday that sales declined for the third consecutive quarter to start 2024 as homeowners and prospective buyers wrestled with higher mortgage rates and inflation.

Starbucks last month lowered its sales expectations for the year as visits to its coffee shops slow worldwide. The decline in spending at U.S. stores was even worse than it had anticipated.

To combat slowing sales, McDonald’s said late last month that it will begin rolling out more deals for customers after the burger giant realized people people were eating out less often in many of its biggest markets.

———

AP Economics Writer Christopher Rugaber in Washington contributed to this report.

About the Authors
By Anne D'Innocenzio
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Photo: World Cup fans drinking.
EconomyEconomics
On Wall Street, analysts increasingly don’t believe the U.S. government’s ‘misleading’ job numbers
By Jim EdwardsJuly 3, 2026
4 hours ago
U.S. President Donald Trump talks to reporters after signing an executive order dealing with automobile repairs with Environmental Protection Agency Administrator Lee Zeldin in the Oval Office at the White House on June 29, 2026 in Washington, DC.
EconomyFed
Trump is already causing a headache for his new Fed chairman, saying the central bank’s board is ‘hostile’ and ‘doing the wrong thing’
By Eleanor PringleJuly 3, 2026
5 hours ago
A $75 billion valuation, 75 million global customers and on its way to America—Revolut is London’s disruptor extraordinaire
EuropeLetter from London
A $75 billion valuation, 75 million global customers and on its way to America—Revolut is London’s disruptor extraordinaire
By Kamal AhmedJuly 3, 2026
5 hours ago
Man in a black hat and jacket
InvestingSpace Exploration
Elon Musk can’t sell a single SpaceX share for a year—and then all the locks crack open at once
By Amanda GerutJuly 3, 2026
5 hours ago
Top CD rates today, July 3, 2026: Lock in up to up to 4.40%
Personal FinanceCertificates of Deposit (CDs)
Top CD rates today, July 3, 2026: Lock in up to up to 4.40%
By Glen Luke FlanaganJuly 3, 2026
5 hours ago
The top high-yield savings rates: Up to 4.50% on July 3, 2026
Personal FinanceSavings accounts
The top high-yield savings rates: Up to 4.50% on July 3, 2026
By Glen Luke FlanaganJuly 3, 2026
5 hours ago

Most Popular

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
Law
Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
By Wyatte Grantham-Philips and The Associated PressJuly 2, 2026
21 hours ago
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
AI
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
By Nick LichtenbergJuly 3, 2026
8 hours ago
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
Economy
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
By Sasha RogelbergJuly 2, 2026
23 hours ago
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
Success
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
By Sasha RogelbergJuly 2, 2026
23 hours ago
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
2 days ago
Current price of oil as of July 2, 2026
Personal Finance
Current price of oil as of July 2, 2026
By Joseph HostetlerJuly 2, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.