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Wednesday, Jun 7, 2023

Retail Sales Slow Up in February

Same-store sales growth slowed up in February, registering a 2.6 percent gain versus the prior month and year for about 60 retailers, according to data just released from Retail Forward. The February figures compare with a 4 percent gain registered last month and a 3.2 percent gain registered in February of 2006. “Apparel specialty stores are losing out to department stores right now, particularly among up market households,” said Frank Badillo, senior economist and director of the Retail Forward KnowledgeBase. “And the impact of a weak housing market is spreading beyond home improvement stores.” Drug stores and warehouse clubs posted the strong gains in February. Consumer electronic stores also gained, the report noted.

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