July CE/Majap Dealer Sales Dip 1 Percent

By Alan Wolf On Aug 6 2012 - 4:01am

WASHINGTON – June sales at CE and appliance stores declined 1 percent year over year, to $8.2 billion, the U.S. Commerce Department reported.

According to the agency’s monthly retail sales estimates, revenue also dipped 0.8 percent from May, and is down 0.4 percent year to date.

By comparison, June sales slipped 0.8 percent for home-furnishings dealers and 0.5 percent for all retailer sectors excluding restaurants and automotive, while sales rose 0.5 percent for online and other consumer-direct retailers, the Commerce Department said.

The National Retail Federation (NRF) cited the weak economic news as a reason, along with saving for backto- school shopping in July and August. (See back-to-school CE spending report.)

On that note, Target said net retail sales for July were $4.99 billion, an increase of 3.2 percent from last year as comp-store sales increased 3.1 percent.

Costco reported net sales of $7.25 billion for July, an increase of 8 percent from last year, with comp-store sales in the U.S. up 8 percent excluding gasoline sales. — Additional reporting by Steve Smith

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