August Sales Disappoint Major Retailers
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The start of the back-to-school shopping season was a disappointment for major retailers, giving the industry a third straight month of listless sales.
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Retail sales have risen by 0.3 percent in August compared with the previous month despite the biggest drop in food sales for more than three years.
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OTTAWA (CP) - Consumers pushed retail sales to a record $29.1 billion in August, says Statistics Canada. That was up 0.8 per cent from July when sales rose 0.4 per cent and also set a record at $28.
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From discounters to upmarket department stores, many US retailers have reported lacklustre sales for September. Although the hurricanes which battered much of the east coast of the US during the month were
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Retail sales edged up in August but they posted the biggest decline in almost a year when car sales were stripped out as consumer spending softened, a government report on Friday showed.
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Retail sales posted a modest gain in August, helped by the biggest jump in auto sales in more than a year. But there are concerns that spending could falter as the steep slump in housing and financial market turbulence weigh on consumer confidence.
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Sales of new U.S. homes unexpectedly  rose in August after July sales came in much weaker than first  thought, while new orders for durable goods fell, according to  government reports on Wednesday that signaled continued  economic softness.
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U.S. retailers on Thursday reported weaker-than-expected August sales, generating the smallest monthly gain in a year and a half as high gasoline prices cut into back-to-school spending.
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Retail sales unexpectedly rose in August, gaining 0.6 percent after a 0.7 percent gain in July, the Office for National Statistics said.
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U.S. retail sales posted a larger-than-expected decline in August, a Commerce Department report on Tuesday showed, but the drop was mostly confined to the automotive sector.
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A string of government reports on  Thursday offered a mixed picture of the U.S. economy while  unexpectedly poor August sales at many major U.S. retailers  fanned fears about consumer spending.
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Higher gasoline prices, concerns about a softening jobs market and bad weather combined to deal a blow to retailers' back-to-school sales hopes in August, marking a disappointing opening of the fiscal third quarter for most of them.
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Home sales slowed and a key measure of prices fell for the first time in 11 years last month, spurred on by the biggest glut of new homes on the market in more than a decade, an industry group said today. The National Association of Realtors report on existing home sales showed that the median home price in August was $225,000, down 1.7 percent from a year earlier.
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WASHINGTONâAmerican shoppers turned tight-fisted in August, dropping sales at retailers by 0.3 per cent and providing fresh evidence of an erratic pace of consumer spending in recent months.
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Wal-Mart Stores Inc., the world&#39;s largest retailer, said August sales will be little changed or rise as much as 2 percent, hurt by Hurricane Charley and sluggish demand for back-to-school products.
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J.C. Penney Co Inc  said on Wednesday its sales at department stores open at least a year fell 4 percent in August, but were better than expected thanks to strong sales of shoes and apparel during the critical back-to-school shopping season.
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Wal-Mart Stores Inc. WMT.N lowered  its August sales forecast on Monday because of disappointing  back-to-school demand, casting doubt on the strength of U.S.  consumer spending in a key shopping season.