It seems we've all been neglecting our local retail outlets. Find the story here.
The lackluster retail environment of spring 2006 likely continued into May, as cool weather and high gas prices kept more consumers out of major stores.
The economy may be humming along, but apparently it buzzed right by the mall!
According to retail analyst, Jennifer Black of Jennifer Black & Associates she:
...expects May to shape up as a softer month than April, a month that disappointed most analysts despite the tailwind of a late Easter. After factoring out a 4.6% increase in gasoline sales that was driven by higher prices at the pump, retail sales rose a paltry 0.1% in April, according to the Census Bureau.
There are lots of possible reasons why, but a strong housing market could be one of them. People may be spending money on larger ticket items. Maybe the wardrobe is on next month's to do list.
"Our checks have revealed disappointing traffic and sales trends throughout the mall," she wrote in a research note Wednesday. Black did note that traffic seemed to pick up by Memorial Day weekend, when a sudden spike in temperatures sparked interest in summer apparel.
Realistically, economic news is very complicated, even subjective. Good news for one person can easily be bad news for someone else. A thermometer is only one gauge for analyzing the weather.
That's my story and I'm sticking to it!
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