With sales uptick, RILA sees return to stores in general
The Retail Industry Leaders Association (RILA) weighed in the Commerce Department’s monthly sales figures, which showed a return to positive numbers.
Monthly retail sales figures for July totaled $403.9 billion, an increase of 0.8% over the previous month, and 4.1% over July 2011.
“Following three months of disappointing sales, skittish consumers returned to stores in July,” said RILA president Sandy Kennedy. “Retailers adjustments to product assortments and pricing are paying off as budget-conscious consumers opened their wallets again last month.”
Remarkably, all retail segments reported gains in July. General merchandisers saw a 0.7% increase over June, while sporting goods and furniture retailers reported growth of 1.6% and 1.1% respectively.
Last week, RILA urged President Obama and Governor Romney to focus on the impending fiscal cliff and to advance policies in the coming months that will promote a robust and vibrant retail industry.