![]() ![]() ![]() “The April retail sales report shows consumers remain inclined to spend though they are becoming more selective in their purchases,” said Oren Klachkin, lead U.S. The nation’s largest home improvement retailer cut its profit and sales expectations for the entire year. Home Depot on Tuesday projected its first decline in annual revenue since 2009 in the aftermath of the bursting of the housing bubble and financial crisis. However, department stores, electronic stores, sporting goods and hobby stores, as well as home furnishings stores all saw declines. Spending increased 1.2% at online retailers and ticked up 0.6% at restaurants and bars. ![]() Business at gas stations fell 0.8% despite an uptick in prices at the pump, suggesting Americans cut back on holiday and spring break travel.Įxcluding car dealers and gas stations, retail sales rose 0.6%. Sales at car and auto parts dealers rose 0.4%. ![]() That indicates that shoppers are struggling to keep up with inflation. are not adjusted for inflation unlike many other government reports, so the headline increase only matched the monthly rise of 0.4% in the government’s consumer price index for April. That is the first retail sales increase since January, when unusually warm weather and a big jump in Social Security benefits juiced spending. Retail sales increased 0.4% in April compared with March, when sales decreased 0.7%. ![]()
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