Rising Gas Prices Cutting Into Retail Sales [Headlines]

Rising Gas Prices Cutting Into Retail Sales [Headlines]
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The cost of travel is impacting the bottom line for stores.

Dan Gould
  • 5 may 2011

USA Today reports:

For the March-April months combined, retailers delivered a 5.25% increase, strongest spring since 1999’s 6.2% rise.

Michael Niemira, chief economist at the ICSC, says, however, he saw some moderation in spending, based on his study of month-to-month seasonally adjusted figures. By his calculation, from March to April, revenue at stores open at least a year rose 0.3%, compared with a 2.2% increase from February to March.

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