Retailers Welcome Strong March Sales Gains

ARLINGTON, Va., April 14 /PRNewswire-USNewswire/ -- Monthly retail sales figures released today by the Department of Commerce showed significant gains, indicating that the economy continues to make steady strides toward recovery, noted the Retail Industry Leaders Association (RILA).

Retail sales in March grew 1.6 percent from the previous month and rose 7.6 percent over sales in March 2009. Helped in part by nice weather as consumers spent on spring clothing and home improvement projects, retail sales excluding auto and auto part sales increased by 0.6% with notable gains in the clothing and home improvement sectors, which increased sales by 2.3 percent and 3.1 percent respectively.

"Although the road to full economic recovery will be a long one, retailers are optimistic about the economic progress made and confident that the worst is well behind them," said Casey Chroust, executive vice president of retail operations. "Consumers are clearly regaining the confidence to make the purchases that they deferred or avoided altogether during the depths of the recession, which of course is good news for both consumers and retailers."  

As evidence that the economic recovery is building, nearly all segments of retail showed sizable growth over March 2009 sales, with furniture sales up by 4.2 percent, sporting goods up 6.3 percent and general merchandise up 4.4 percent.  

Today's retail sales follow last week's news from the U.S. Department of Labor that the economy added 162,000 jobs in March.

"Retailers stand to emerge from the recession stronger and more profitable than before," said Chroust. "Successful retailers have adjusted business processes and invested in technology and training to achieve greater efficiency, which will translate into greater profitability as the economy improves."  

Successful retailers also attracted new customers during the recession by offering the value and the product assortment that they sought. As the economy grows, retailers must now shift their focus to retaining these new customers.

"For retailers that adjusted and invested wisely during the recession, the future is a bright one," concluded Chroust.

RILA is the trade association of the world's largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs and more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad.

SOURCE Retail Industry Leaders Association