Sales in Home Retail Channels Fall in February
March 11, 2011,
WASHINGTON-While February was an upbeat month for U.S. retailers as a whole, the furniture and home-furnishings sector registered a down month.
Sales at furniture and home-furnishings stores were off 0.8 percent from January and fell four percent from February of last year, totaling $7.4 billion on an adjusted basis, according to figures released this morning by the U.S. Census Bureau. U.S. retailers as a whole posted sales of $387.1 billion, up one percent from January and 8.9 percent from February 2010.
A statement from the National Retail Federation put a positive spin on the overall February results. "February retail sales are in sync with evidence of the expanding economy," said Jack Kleinhenz, NRF's chief economist. Kleinhenz also cautioned that it's still too early to tell what effect the expected spike in gasoline prices this spring will have on consumers.
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ALSO IN THIS ISSUE:
- Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
- Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.