Retail Business Starts to Recover
The retail business has posted a slight increase in sales following months of slumping revenue due to low consumer demand. Meanwhile, economists said that these result is a good sign that shows the US economy is starting to bounce from the financial recession which started in September last year.
The retail business has posted a slight increase in sales following months of slumping revenue due to low consumer demand, according to Reuters report.
In the latest sales report, many retail companies have posted an increase of its quarterly earnings that several of these have topped the Wall Street.
Meanwhile, the overall sales of retail business fell by 1.8 percent which is less than what analysts initially expected. And though it has slightly declined, experts said it is a welcoming development that shows the retail business is at least recovering.
In an interview with economists, they said the result is somewhat encouraging following gloomy news which shows that most businesses were facing financial slowdown.
The International Council of Shopping Centers (ICSC) said it expected the overall same-store sales to rise 1 to 2 percent in April and remain flat to 1 percent in May. Meanwhile, the US biggest department store-chain Wal-Mart which experienced slumping sales for the past few months is expecting a 3.2 percent increase in sales.
Other retail stores such as Ross Stores, Gymboree Corp, and JC Penny Co Inc. are also expecting its first quarter earnings.
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