Christian Retailing

Retail sales increase in March over 2005 Print Email
Sunday, 16 April 2006 08:00 PM America/New_York

Retail industry sales climbed 7.2% in March over the same period last year as home improvement and furnishing categories continued to see significant increases, the National Retail Federation (NRF) reported. Retail industry sales-which exclude automobiles, gas stations, and restaurants-increased 0.3% seasonally adjusted for the month over February. The NRF said last month's sales were stronger than originally reported, and had been revised up from 7.2% to 7.8%.

“In spite of economic concerns, consumers are still demonstrating their ability to spend,” said NRF Chief Economist Rosalind Wells. “With gas prices continuing to rise and the slowdown in the housing market, we expect consumers to become more conservative as the year goes on.”

According to numbers from the U.S. Commerce Department, which includes non-general merchandise categories such as autos, gasoline stations and restaurants in the retail category, total sales increased 0.6%, seasonally adjusted from February, and increased 7.9% unadjusted year-over-year.

The largest growth occurred in the building material and garden equipment and supplies categories, where sales increased 17.4% unadjusted year-over-year. Furniture and home furnishings stores also saw a rise, with sales up 10.8% unadjusted over last March.

Health and personal care stores were also among the top retail performers, the NRF said, with increases of 5.9% unadjusted from the prior year, as well as sporting goods, hobby, book & music stores, with increases of 7.9% unadjusted from last year.