Retail Industry News
Retail Sales Growth Supporting Economic Recovery
Tuesday, 16, March 2010
Monthly retail sales figures released today by the Department of Commerce show strong gains despite foul weather conditions that plagued much of the east coast in February, noted the Retail Industry Leaders Association (RILA).Retail sales outside auto dealers increased by a healthy 0.8% in February following a solid 0.5% gain in January; non-auto retail sales are up by 4.2% from last February.
Nearly all categories of retailers showed growth, with strong gains in electronics; sporting goods, books and music; groceries; and department stores. Sales rose moderately for furniture, building supplies and clothing, and were weak only at Internet retailers and pharmacy and health stores. Sales of automobiles and parts fell by 2% for the month. Overall retail sales including autos were up by 0.3% in February and are 3.9% higher than a year ago.
