-
September retail sales jump 1.1%, beating forecasts
New York City -- U.S. retail sales in September grew at their fastest pace in six months, beating forecasts and rising 1.1%, the Commerce Department reported Friday. Excluding the auto sector, sales rose 0.6%, also better than expected. The increase gave retailers renewed hope for the upcoming holiday season.
The Commerce Department also reported that sales for August, which were originally reported as unchanged, were revised up to a 0.3% increase.
-
Market Track: September 2011
Promotions during September saw mixed outcome with some retailers increasing the number of pages and inserts, while the rest decreased the volume of promotions. The contrasting promotional strategies among the retailers led to the overall change being minimal.
Like August, the largest decrease was Lowes, which saw a 61% drop in number of number of pages per market and 54% decline in inserts per market. This was a result of Lowes not having promotions in the second and third week of both August and September.
