Retail Sales Edge Up in June



WASHINGTON–U.S. retail sales totaled $387.8 billion on an adjusted basis in June, up 0.1 percent from May and 8.1 percent ahead of June 2010, according to this morning’s report on monthly retail sales from the U.S. Census Bureau.

The June performance marked the 12th consecutive month of a retail sales increase. A statement from the National Retail Federation said June sales received boosts from warm weather, lower gasoline prices and “strong” Father’s Day promotions.

At furniture and home-furnishings stores, June’s sales were 0.8 percent behind May and 0.5 percent ahead of June of last year. General-merchandise stores experienced a 0.4 percent gain month over month and a pickup of 4 percent year over year. Department stores (excluding leased departments) posted increases of 1.4 percent over May and 0.8 percent over June 2010.

Jack Kleinhenz, NRF’s chief economist, said, “With the summer season well under way, retailers are hoping this momentum continues through the back-to-school season. Knowing that shoppers remain concerned about the economy, companies have already begun offering aggressive promotions to entice shoppers.”

Posted in News, Retail.

Last updated: July 14, 2011