Retail Sales Drop; Electronics, Furniture Take Hit
Retail sales for the month of March fell unexpectedly, breaking the chain of increases for the previous two months, according to the Commerce Department's report Tuesday.
Led by slumps in big-ticket items like autos, home appliances and furniture, total retail sales dropped 1.1 percent after rising a revised 0.3 percent in February, previously reported as a 0.1 percent fall. Sales at electronics stores tumbled 5.9 percent, furniture retailers posted a 1.7 percent drop in sales, and clothing purchases dropped 1.8 percent, according to the report.
Sales at U.S. retailers unexpectedly fell in March, snapping two months of increases.