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Hernando Today

Retail Sales Dip Again

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By TONY HOLT

Hernando Today

Published: March 25, 2009

NEW YORK - The Easter holiday will be celebrated in mid-April this year and that has impacted chain store sales, according to an agency that tracks the retail industry.
The International Council of Shopping Centers reported Tuesday the retail sector experienced another weekly decline in sales (0.4 percent) for the week ending March 21.
The year-over-year decline was at 1.4 percent.
"It's more of a case of us not being out of the woods quite yet," said ICSC spokeswoman Erin Hershkowitz. "We're just now slowly seeing consumer confidence go back up."
A Gallup Poll taken last week showed consumer optimism on the rise, but still low.
Lately, the week-to-week changes have been positive for the retail industry. Five out of the previous eight weeks have seen increases — there were three week-to-week improvements alone in February — but March's sales have been sluggish.
Last month, ICSC published a report that predicted sales in March would be "flat to down 1 (percent)." So far, it's been worse than expected.
Retailers tend to use Easter sales to induce shoppers. The holiday will be celebrated April 12.
"Spring is usually a really good season because you have spring fashion, Easter and people shopping for their vacation clothes," Hershkowitz said. "It's also a good time for children's shopping and apparel."
Hershkowitz expects to see positive gains next week as Easter looms closer.
Even still, the spring and summer months will continue to lag as the recession continues, but "slower-than-normal" growth is expected sometime during the second half of the year, she said.

Reporter Tony Holt can be reached at 352-544-5283 or wholt@hernandotoday.com.

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