Apr 8, 2011

US Retail Sales Solid In March Despite Late EasterBy Leonie BarrieJust-Style.com

retailers weathered all manner of obstacles – including chilly weather, the late Easter holiday and higher fuel prices – to top downbeat March forecasts, according to results posted yesterday (7 April), as shoppers continued to head to the stores to spend.

“Sustained growth in jobs and income may be helping to alleviate some of the pain,” says said Frank Badillo, senior economist at Kantar Retail.

“What’s encouraging is that the Easter-related letup in sales wasn’t as severe as expected by a number of retailers – especially in light of the additional drag of higher fuel prices.”

Easter falls on 24 April this year, three weeks later than last year’s 4 April.

According to Kantar Retail, same-store sales were up 2.5% in March. But while any gains are good, the consultancy and research firm points out this momentum is slower than the 4.4% rise booked last month and 9.2% in March last year. The month’s tally was also less than half of last year’s combined 5.7% gain for March and April.

“Most retail sectors continued to record solid growth year-over-year,” agrees Michael McNamara, vice president, research and analysis for MasterCard Advisors SpendingPulse, which follows retail sales across all payment forms.

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