Retail Sales Hitting Stride
By Staff -- Home & Textiles Today, 3/28/2005 12:00:00 AM
Picking up the pace and starting to sprint ahead moving into the new year, total U.S. retail sales climbed 0.5 percent during February, improving on a 0.3 percent increase recorded the month before, when post-holiday sales kicked into gear.
In a notably strong performance, improving sales were recorded across the board, with almost every major category gaining. Indeed, of 12 key merchandise channels tracked by the U.S. Department of Commerce, 10 pushed ahead in February, ranging from car dealers to restaurants and bars. One (non-store retailing was flat) and only one declined — building materials and garden supplies — slipping 1.3 percent.
Excluding building supplies, home categories were strong performers, with electronics and appliances jumping 1.6 percent, improving on a 2 percent gain in January. Furniture and home furnishings increased 0.7 percent, building on a January gain of 0.9 percent.
The highly volatile measure of car sales — which moves in seasonal swings and fluctuates with price cuts and interest rate promotions — gained 0.7 percent, recovering from a steep 2.1 percent drop in January.
RETAIL SALES IN FEBRUARY
|Source: U.S. Department of Commerce
|Electronics & appliances||1.6%|
|Restaurants & bars||1.2|
|Clothing & accessories||1.1|
|Furniture & home furnishings||0.7|
|Health & personal care||0.3|
|Sporting goods, books, music||0.1|
|Building mat./garden supplies||-1.3|
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