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Retail Sales Rose In June

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According to figures released today by the U.S. Department of Commerce, retail sales were up slightly in June, welcome news for retailers, who saw numbers dip last month, noted the Retail Industry Leaders Association (RILA).

Monthly retail sales were up 0.1 percent from May and up 8.1 percent from June 2010. Retail sales excluding auto sales were up 0.2 percent over the previous month and 8.5 percent over June 2010.

With the exception of electronics, retail sales for June were up across all segments of retail. Apparel led the way in June with an increase of 2.6 percent over May and an increase of 6.5 over June 2010. Other increases included furniture up 1.7 percent over May and building materials were up 1.7 percent.

"We were pleased to see sales pick up in June and hope to see that trend continue," said RILA President Sandy Kennedy.

Consumers opened their wallets last month making the most of discounts, summer-clearance promotions and the warm weather. Moving forward, retailers will try to steer away from deep discounting and look to scale back inventories for the second part of the year as they hope to increase earnings.

"We want to continue to see a steady increase in retail sales but with the slow economic recovery retailers are not without challenges. They continue to be faced with increasing costs of raw materials and unsteady jobs numbers and fluctuations in consumer confidence. Ultimately, improvement in country's employment situation will remain a crucial factor," concluded Kennedy.

RILA is the trade association of the world's largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs and more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad.

 

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