Chain Store Sales Down in Early April
Tue Apr 8, 8:17 AM ETNEW YORK (Reuters) - Retail sales at U.S. chain stores declined last week, due primarily to Americans staying home to monitor developments in the Iraq war and to poor weather, a report showed on Tuesday.
Sales fell 0.5 percent in the April 5 week, after falling 1.4 percent in the preceding week, the Bank of Tokyo-Mitsubishi and UBS Warburg said in a joint report.
Compared with the prior year, sales for the week edged lower by 0.3 percent -- hurt by an Easter-related boost in sales during the comparable week last year.
"The confluence of the lingering 'CNN war effect,' and less than favorable spring weather so far in many parts of the country ... chipped away at consumer demand over the latest week," the report said.
The BTM/UBSW Weekly Chain Store Sales Snapshot is compiled from a group of major discount, department and chain stores across the country that report their weekly results. The BTM/UBSW index measures sales growth with the year 1977 equaling 100.
Just think if Bush had had the audacity to shoot the finger at the UN way back in October, we'd be well into a recovery right now.