NRF: March sales show retail still struggling

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NRF: March sales show retail still struggling

April 14, 2009

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Washington--Retail industry sales for March (excluding automobiles, gas stations and restaurants) decreased 0.6 percent seasonally adjusted from February and dropped 3.7 percent unadjusted over the same period last year, according to the latest research from the National Retail Federation (NRF).

March retail sales released today by the U.S. Commerce Department show total retail sales (which include non-general-merchandise categories such as automobiles, gas stations and restaurants) decreased 1.1 percent seasonally adjusted month-to-month and dropped 10.6 percent unadjusted year-over-year.

Retail industry sales for February were revised upward, increasing 0.3 percent instead of dipping 0.1 percent as originally reported.

These figures demonstrate that even after several months of stronger-than-expected retail sales, the industry is continuing to struggle, according to the NRF.

"A chilly start to spring and a late Easter combined for dreary March sales," NRF Chief Economist Rosalind Wells said in a media release. "To compensate for the Easter shift, retailers typically look at March and April together to get a better look at how their stores performed. Easter should give a much-needed boost to April sales."

One of the only bright spots in March came from health and personal-care stores, whose sales increased 0.4 percent seasonally adjusted from February and 3.5 percent unadjusted over the same period last year. Sales at food and beverage stores also increased 0.5 percent seasonally adjusted month-to-month but decreased 1.8 percent unadjusted year-over-year.

The shift in Easter sales also played a role in consumer purchases of clothing and clothing accessories. Sales at those stores decreased 1.8 percent seasonally adjusted from February and dropped 8.7 percent unadjusted over the same period last year.

Sales at electronics and appliance stores decreased 5.9 percent seasonally adjusted month-to-month and dropped 10 percent unadjusted year-over-year. Sales at sporting goods, hobby, book and music stores also decreased 0.9 percent seasonally adjusted from last month and dropped 3 percent unadjusted over the same period last year.

The NRF is the largest retail trade association in the world, with members including department, discount, drug, grocery, independent and specialty stores, catalog merchants, chain restaurants and e-tailers, as well as the industry's key trading partners of retail goods and services.

For more information about the NRF, visit its Web site, NRF.com.

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