California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The advance estimates of U.S. retail and food services sales for April, adjusted
for seasonal variation and holiday and trading-day differences, but not for price
changes, were $389.4 billion, an increase of 0.5 percent (±0.5%) from the previous
month, and 7.6 percent (±0.7%) above April 2010.

The Easter holiday helped boost apparel sales last month with clothing and clothing
accessory stores seeing gains of 0.3 percent seasonally adjusted over the previous
month and 8.6 percent unadjusted year-over-year.

Sales at electronic and appliance stores decreased 2.2 percent seasonally adjusted
month-to-month but increased 1.0 percent unadjusted from last year. Home furnishing
and building material stores felt the pinch last month, both seeing only slight or
no gains. Sales at furniture stores decreased 1.1 percent seasonally adjusted over
March and increased 1.0 percent unadjusted year-over-year. Building material and
garden equipment stores sales increased 0.1 percent seasonally adjusted month-to-
month but decreased 5.6 percent unadjusted over April of last year.

Health and personal care stores, oftentimes proving resilient against frugal consumers,
also saw decreases last month. Sales at these stores decreased 0.3 percent seasonally
adjusted over March but increased 4.6 percent unadjusted year-over-year.

I am Tim Johnson and this has been the California Business Minute.