News

NRF: March retail sales indicate confident, but cautious, consumer

April 12, 2011

According to the National Retail Federation, retail sales in March increased across the board for the ninth straight month. For March, retail industry sales, which exclude automobiles, gas stations and restaurants, increased 0.6 percent seasonally adjusted from February and 3.9 percent unadjusted year-over-year.

“Shoppers last month were eager to take advantage of retailers’ spring promotions on everything from apparel to outdoor furniture,” said Matthew Shay, president and CEO, NRF. “While current indicators point to a more confident consumer, increasing gas prices and a cramped job market could hamper consumer spending during the upcoming summer months, a key time of year for retailers.”

Warmer weather helped building material, garden equipment and supplies dealers see increased sales last month, increasing 2.2 percent seasonally adjusted from the previous month and 5.5 percent unadjusted over last year. Consumers also stocked up on new spring attire, boosting clothing and clothing accessory stores sales 0.6 percent seasonally adjusted month-to-month and 3.4 percent unadjusted year-over-year.

Electronics and appliance stores also saw solid gains. Sales increased 2.1 percent seasonally adjusted from the previous month and 3.6 percent unadjusted over last year. Sales at grocery stores increased 0.3 percent seasonally adjusted month-to-month and 4.1 percent unadjusted year-over-year. Health and personal care stores sales increased 0.7 percent seasonally adjusted over February and 5.1 percent unadjusted over last year.

Also benefitting from warmer weather, furniture and home furnishing stores sales increased 3.6 percent seasonally adjusted month-to-month and 3.8 percent unadjusted year-over-year.