Shop Talk

Retailers, consumers and prices

Check Out Line: Retail joy in sunny days?

June 30, 2009

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

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •