Retailers reported weak sales in April
Retailers reported weak sales in April
Major chains across the States reported a decline of almost 2.5 percent in sales during April; the weakest reported since 1970. No big sales were expected in April but the deliver was less than forecasted.
There are several factors that affected the numbers, Easter sales this year impacted March sales, cooler weather, weak housing market and constant increase gasoline prices. Wal-Mart reported a 3.5 percent decline since 1991, and Target reported a 6.1 percent drop.
In contrast the wholesale clubs and luxury chains reported a gain of 5.0 percent on the average. This is a wake-up call that things are different and customer have different product choices.
