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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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