Retail sales blossomed in May thanks to good weather and holiday promotions, according to a recent report by a research firm. Sales in stores open for at least one year were up 4 percent compared to May 2011.
The report, cited in an article on the Milwaukee Journal Sentinel’s website, beat expectations for some retail chains. Experts had predicted a 2 percent decrease in May sales for one regional department store, but same-store sales rose 1.5 percent.
In addition, the chain’s e-commerce business posted double-digit increase in sales, the company president told the newspaper. He attributed the overall growth to new products and marketing efforts. Other national retail chains posted growth that ranged from 2 percent to 13.7 percent.
Sales were good in January and February with the mild winter. Traditionally May is a good month, driven by the sale of summer fashions. Mother’s Day sales and Memorial Day promotions also bolstered sales growth, the report explained.
But with strong May retail sales comes great retail expectations for June. An economist with the International Council of Shopping Centers said retailers need to keep an eye on the economic news coming out of Europe.
Source: JSOnline, May 2012