May retail sales figures could show strong improvement
Retail sales have been fluctuating since the beginning of the year, and the nation's merchants are ready for some welcome news. Something positive could be on the horizon, as May's sales numbers will be released this week, and initial reports are showing solid growth.
MarketWatch writes that a winter filled with lower-than-normal temperatures and increasing payroll tax rates contributed to a less-than-stellar first quarter for American companies. Research from Retail Metrics found that many large brands reported profits below their 12-year average. During the first three months of 2013, first-quarter profits for big name retailers grew 5 percent, but this figure did not meet the 7.8 percent average seen over the past decade, the source notes.
However, warmer weather and additional sales could be just what is needed to draw in customers, and May could turn out to be successful for merchants, the source explains.
The Wall Street Journal reports that initial figures from Redbook Research indicate that sales increased 0.6 percent last month from April. When compared to the same time a year ago, the figure rises to 2.7 percent.
