May 11, 2007

Gas prices hurt sales; Major retailers report drop in April as consumers decide to stay homeBy Scott BlakeFloridaToday.com

Big retailers Thursday reported a drop in nationwide sales during April, and some Brevard County retailers said they are not faring much better.

Analysts blame retail sluggishness on rising consumer costs, such as gasoline prices, which in Florida are near record highs; and on weakened housing markets. By one measure, Wal-Mart said it has its weakest one-month performance since it started publishing monthly sales data in 1980.

There were bright spots among some Brevard retailers, who have seen small or moderate increases in sales, but they attributed it to niche factors, such as moving to high-growth locations, rather than the strength of the economy.

“We still believe that the effects of the downturn in housing here in Florida are far from over,” said Chris McCarty, survey director at the University of Florida’s Bureau of Economic and Business Research.

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