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
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
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.
reporting by Steve Smith