CALIFORNIA BUSINESS MINUTE
Retail Sales
08-16-10
Hi, I am Tim Johnson and welcome to the California Business Minute
The Commerce Department reported that U.S. retail sales increased for the first
time after two months of decline in three months to 0.4 percent to $362.7 billion
in July from June. However sales were 5.5 percent higher than from June 2009.
Auto Sales boosted an otherwise weak retail sector where the only increases were
in automotive sales and gasoline stations. Decreases were seen in Furniture and
Home Furnishings, Electronics and Appliance Stores, Building materials and Garden
Equipment, Food and Beverage, Clothing and Clothing Accessories, Sporting Goods,
Hobbies and Book and Music Stores along with General Merchandise Stores. The
only real increase and a slight increase at that, was with Health and Personal
Care stores.
As identified, retailers saw declines in virtually every category. Department
stores were down 1.0 percent from June, with clothing and clothing accessories
not far behind, dropping 0.7 percent. Furniture and home furnishings and building
materials were down 0.3 percent.
"Retailers continue to persevere in an uncertain economic environment, relying on
cost controls rather than sales growth to maintain profitability," said Sandy
Kennedy, president of the Retailers Industry Leaders Association.
I am Tim Johnson and this has been the California Business Minute.
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