FINANCE

Sales up 0.4% in March

BY CSA STAFF

Washington, D.C. — Retail sales increased 0.4% last month, the Commerce Department said Wednesday, buoyed by rising gasoline revenue. The gain in March, the ninth consecutive monthly increase, was the smallest since the string began last summer.

The increase shrank to a 0.1% when sales at gasoline stations were excluded. However, the biggest decline in auto sales in more than a year also pulled down overall sales. When taking out sales at gas station and of autos, retail sales rose 0.6%.

Many analysts considered that a solid gain, given the jump in gas prices and the fact that Easter is late. They also noted that sales in the previous two months were revised up to show slightly better gains.(On Wednesday, the government revised February’s sales growth to 1.1%, up from the 1.0% increase it originally reported.)

For March, sales of autos dropped a sharp 1.7%, the biggest decline since February 2010, with some of the weakness attributed to General Motors’ scaling back incentive offers.

Among the strongest performing retail sectors was home furnishings stores, where sales rose 3.6%. Sales were also rose at appliance stores and specialty clothing stores. Sales at general merchandise and discount stores increased 0.4%.

However, sales at just department stores dropped 0.2% in March.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Retail sales up slightly as consumers take advantage of spring deals

BY CSA STAFF

WASHINGTON – Retail sales increased 0.4% last month, the Commerce Department said Wednesday, buoyed by rising gasoline revenue. The gain in March, the ninth consecutive monthly increase, was the smallest since the string began last summer.

The increase shrank to a 0.1% when sales at gasoline stations were excluded. However, the biggest decline in auto sales in more than a year also pulled down overall sales. When taking out sales at gas station and of autos, retail sales rose 0.6%.

Many analysts considered that a solid gain, given the jump in gas prices and the fact that Easter is late. They also noted that sales in the previous two months were revised up to show slightly better gains.(On Wednesday, the government revised February’s sales growth to 1.1%, up from the 1.0% increase it originally reported.)

For March, sales of autos dropped a sharp 1.7%, the biggest decline since February 2010, with some of the weakness attributed to General Motors’ scaling back incentive offers.

Among the strongest performing retail sectors was home furnishings stores, where sales rose 3.6%. Sales were also rose at appliance stores and specialty clothing stores. Sales at general merchandise and discount stores increased 0.4%.

However, sales at just department stores dropped 0.2% in March.

“Shoppers last month were eager to take advantage of retailers’ spring promotions on everything from apparel to outdoor furniture,” said National Retail Federation president and CEO Matthew Shay. “While current indicators point to a more confident consumer, increasing gas prices and a cramped job market could hamper consumer spending during the upcoming summer months, a key time of year for retailers.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Payless names SVP women’s and accessories businesses

BY CSA STAFF

TOPEKA, Kan. — Payless ShoeSource announced that Andrew Meyer has been named SVP and general merchandise manager for Payless’ women’s and accessories businesses, reporting to LuAnn Via, president and CEO of Payless.

"Andy brings 25 years of experience as a merchant in the footwear industry across men’s, women’s and children’s footwear categories," said Via. "We are thrilled to welcome Andy to the Payless team and look forward to his valuable contributions as we continue to democratize fashion and design in footwear and accessories for Payless customers around the world."

Meyer most recently served as VP and merchandise manager, women’s footwear for Famous Footwear, a division of Brown Shoe Corp. Prior to Famous Footwear, Meyer served as a senior buyer for women’s and children’s footwear and senior buyer of men’s footwear at Just for Feet, a division of Footstar Inc. He started his merchandise buying career as a buyer in women’s and kid’s footwear for Venture Stores, a division of the May Company, in 1986, and later served as buyer, VP and divisional merchandise manager at Pic and Pay Stores.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...