NRF: Retailers Report Sluggish September
With economic pressures hindering consumer spending, retail sales continued to lag in advance of the holiday season, according to the National Retail Federation, which reported Wednesday that retail industry sales for September (excluding automobiles, gas stations and restaurants) decreased 0.7 percent seasonally adjusted from August, while increasing 1.4 percent unadjusted year-over-year.
September retail sales released Wednesday by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) were flat unadjusted over last year and down 1.2 percent seasonally adjusted from August.
Sales at furniture and home furnishing stores decreased 2.3 percent seasonally adjusted from the previous month and dropped 9.2 percent year-over-year unadjusted. Electronics and appliance stores declined 1.5 percent month-to-month seasonally adjusted while decreasing 2.1 percent unadjusted from September 2007. Apparel retailers also saw declines of 2.3 percent seasonally adjusted from August and dipped 2.0 percent unadjusted year-over-year.