This story has been updated from 8:56 am ET with additional information.
NEW YORK ( TheStreet) -- U.S. food and retail sales rose 0.4% in June from May to $422.8 billion, according to the latest Commerce Department figures released on Monday, below Wall Street expectations of a 0.8% rise, according to Thomson Reuters.
Last month's retail sales numbers were 5.7% above June 2012, the data said.
The growth largely came from autos and motor vehicle dealers, up 2.1% month over month as well as furniture and home furnishing stores, up 2.4% from May. However building material and garden supplies slumped 2.2% in June, the data said.Excluding autos and auto service supplies, sales were flat from May 2013, below the expectation of a 0.4% rise. Sales at non-store retailers rose 13.8% from a year earlier. Total sales for the April through June 2013 period were up 4.6% compared to the same period, a year earlier. The April to May 2013 percent change was revised lower to 0.5% growth from 0.6% growth. "The consumer economy is improving but growth rates and retail sales will remain reserved for the foreseeable future," NRF Chief Economist Jack Kleinhenz said in a statement. "U.S. households have adjusted their spending to a slow-growth economy. With employment and consumer confidence improving, we expect that the second half will be better than the first." Retail stocks were mixed on Monday. Shares of Tiffany (TIF - Get Report) jumped 3.9% to $80.04 after Stifel Nicolaus upgraded the stock from hold to buy. Shares of Vera Bradley (VRA) rose 2.5% to $23.18 and teen retailer Zumiez (ZUMZ) rose 2.4% to $31. Shares of Gap (GPS - Get Report) and Michael Kors (KORS - Get Report) were down 0.6% and 2.5% respectively after each receiving a downgrade to neutral from overweight by Piper Jaffray. Last week, retailers that still report monthly same-store sales posted gains in June that exceeded Wall Street expectations. Only 11 retailers still report the once famous monthly metrics, the largest of which is Costco (COST - Get Report). Most retailers prefer quarterly metrics. Excluding the drug stores, Walgreens (WAG) and Rite Aid (RAD), same-store sales exceeded estimates, registering 5.9% growth, up from the 4.8% estimate and 2.6% from a year earlier, Thomson Reuters reports said. -- Written by Laurie Kulikowski in New York. Follow @LKulikowski To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com. >To submit a news tip, email: firstname.lastname@example.org.
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