U.S. Retail Sales Slip in June
July 14, 2010,
WASHINGTON--Sales at the nation's retailers declined 0.5 percent last month, to a seasonally adjusted total of $360.2 billion.
The overall performance included a 1.1 percent drop in sales and furniture and home-furnishings stores to $7.5 billion. Sales at general-merchandise stores increased 0.2 percent to $50.4 billion, which included a 1.1 percent rise in sales at department stores to $15.6 billion.
"Moderate growth these last few months proves that consumer uncertainty remains," said NRF's chief economist, Jack Kleinhenz. "A slow- growing economy and high unemployment rates will continue to hinder consumers' decisions to spend on discretionary items.
Other Articles By Author
Patti Carpenter Talks Color and its Importance in the Home
HFN's DIGITAL EDITION
COVER STORY: Sharpening the Focus on Millennials
Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.
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.