Cars Brake Retail Sales
Staff Staff -- Furniture Today, September 20, 2004
Hobbled by a deep 1.9 percent drop in car sales, overall retail sales fell further than expected during August, slipping 0.3 percent, the Commerce Department reported.
Excluding highly volatile auto sales, retail sales edged up 0.2 percent from July levels, hampered by a triple whammy of severe weather across parts of the country, shifting school schedules and a late Labor Day weekend, the National Retail Federation (NRF) reported.
Underlying the weakness in traditional retail channels during August, the retail trade group said sales of general merchandise retails dipped 0.4 percent from the month before, but were still up 2 percent from August, 2003. “August represented another notch in a schizophrenic summer for retail sales,” said Rosalind Wells, NRF chief economist. “Retailers are hoping that fall and winter sales are more consistent and predictable.”
Retail sales in august
|Source: U.S. Department of Commerce
|Health & personal care stores||+1.0|
|Building mat. & garden supplies||+0.4|
|Electronics & appliance stores||+0.1|
|Clothing & accessories||-1.4|
|Furniture & home furn. stores||-0.9|
|Restaurants & bars||-0.3|
Furniture Today's Ray Allegrezza Speaks with Stephen Bogart about Fine Furniture's New Bogart Line