California Business Minute™

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

The Commerce Department reported that U.S. retail sales fell for a second straight
month to 0.5 percent to $360.2 billion in June from May.  However sales were 4.8
percent higher than from June 2009.

Those retail sectors showing declines were automotive vehicles and auto parts;
furniture and home furnishings stores; building materials and garden supplies; food
and beverage stores and sporting goods, hobby, book and music stores fell by 1.4 percent. 
Gas station sales were down 2 percent for the month.

Conversely, retail sectors showing increases were electronics and appliance stores which
increased the most were up by 1.3 percent; health and personnel care; clothing and
clothing accessories and general merchandise stores all saw increases.

Of interest, the recession has improved retail sales for athletic gear specifically for
running.  According to data published by Leisure Trends Group, a US-based market
research company, this sub sector saw 6 percent increase in growth in 2009 and in the
first four months of 2010 has seen a 16 percent increase as sales for apparel in this
category rose by 10 percent.  Apparently, people may be dropping gym memberships
for a new pair of running shoes to get their exercise.

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