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June CE/Majap Retail Sales Fall 2.4%

7/14/2011 12:48:09 PM Eastern
Washington - June sales for CE and appliance retailers fell 2.4 percent year over year to $8.3 billion, according to the latest monthly tally from the U.S. Commerce Department.

The figures, which were adjusted for seasonal variation and holiday and trading-day differences but not for price changes, show sales within the CE and majap sector slipped 0.2 percent from May.

Total June retail sales rose 8.1 percent year over year to $387.8 billion and edged up 0.1 percent from May, the Commerce Department reported, marking the 12th consecutive monthly increase.

The National Retail Federation (NRF), an industry trade group, attributed the gains to lower gas costs and strong Father's Day promotions.

"Retailers are hoping this momentum continues through the back to school season," said NRF chief economist Jack Kleinhenz. "Knowing that [consumers] remain concerned about the economy, companies have already begun offering aggressive promotions to entice shoppers."
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