For the fourth consecutive month, the Monthly Retail Trade Survey, prepared by the U.S. Census Bureau, reported a drop in sales in sporting goods stores. For the most recent reporting month (May), sales fell 3.9% after dropping 1.0% in April, 2.2% in March and 1.8% in February.
According to the NSGA, April sales were $3.16 billion (preliminary) versus $3.29 billion in May 2008. The May decline was the sharpest since June 2002 when sales declined 3.3%.
Following four consecutive months of declines, year-to-date sales in sporting goods stores finally moved negative. Sales had been so strong in January (up 7.0%) that it took the sales declines of the next four months to bring year-to-date sales into negative territory. Year-to-date sales in sporting goods stores are down 0.8%.
Sales growth for the full year 2008, the slowest since 2002, is only a third of the previous year. Sales for 2008 were $37.1 billion, up 2.3% from 2007. Sales for 2007 reached $36.3 billion, up 6.3% from 2006 sales of $34.1 billion. Sales in 2006, up 10.6% over the previous year, represented the strongest increase in the past 10 years.
Total sales for calendar year 2005 were $30.9 billion, up 7.0% from 2004. In 2004 sales were $28.85 billion, up 6.2% versus 2003. Sporting goods store sales for all of 2003 were $27.17 billion, a 3.1% increase versus 2002 when sales were up a meager 0.2%.
The estimated annual sales for sporting goods stores in the U.S. Census Bureau Monthly Retail Trade is consistent with sporting goods sales reported in the NSGA study “The Sporting Goods Market.” The U.S. Census Bureau estimates are based on data from the Monthly Retail Trade Survey, Annual Retail Trade Survey, and administrative records and have been adjusted using results of the most recent economic census. The NSGA study is based on a sampling of 80,000 U.S. households.
