Reuters Blogs

Shop Talk

Retailers, consumers and prices

09:06 June 30th, 2009

Check Out Line: Retail joy in sunny days?

Posted by: Ben Klayman
Tags: Shop Talk, , , ,

shop11Check out the welcome warm weather.

The long anticipated arrival of warm weather helped boost U.S. consumer spending 1.6 percent in the week that ended June 27, from a week ago – the strongest gain since matching its Jan. 31 results, according to a stody by the International Council of Shopping Centers and Goldman Sachs.

On a year-over-year basis, sales rose 0.6 percent.

“A bout of seasonally hot weather late in the week helped to trigger consumer spending,” ICSC chief economist Michael Niemira said in a statement. “This late June sales spark was a welcome sign for the industry and the economy. ”
 
However, he added, ”for the month as a whole, June sales continue on track for a ‘tough’ month with the early part of the month weighing heavy on its performance.”
 
Excluding Wal-Mart Stores, which has stopped reporting monthly sales, the ICSC expects June sales to be down by about 5 percent.

Investors, analysts and consumers are watching for signs the U.S. recession may be nearing an end.

Also in the basket:

Nestle confirms E. coli found in Nestle cookie dough

Grocers on defensive as dollar stores rise

Top US court agrees to hear case on NFL licensing

Bendy cucumbers, strange leeks return to EU shops

Apparel Firms Keep Close Eye on Honduras (WWD, subscription required)

(Photo/Reuters)

Post Your Comment

*
To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word

House Rules:
  • We moderate all comments and will publish everything that advances the post directly or with relevant tangential information
  • We try not to publish comments that we think are offensive or appear to pass you off as another person, and we will be conservative if comments may be considered libelous information.