WASHINGTON–U.S. retailers reported the first month-over-month gain in sales in six months in August. Excluding sales of motor vehicles and auto parts, sales rose 1.1 percent to $287.2 billion on a seasonally adjusted basis.
This includes a 2.4 percent gain posted by the nation’s department stores, whose checkouts totaled $15.8 billion when adjusted for the season.
A statement by the National Retail Federation said U.S. retailers managed these gains in spite of the “cash for clunkers” program, which had been expected to hurt traditional retailers. “Many Americans who traded in their vehicles have become saddled with monthly care payments, which reduces the amount of money they’re able to spend in other areas,” said Rosalind Wells, NRF’s chief economist. “Shoppers were a bit more comfortable digging into their wallets last month, and retailers are hopeful that we’ve turned a corner.”
Retail sales were still significantly off from last year, with all retailers experiencing a 6.2 percent drop and department stores down 4.7 percent compared to 2008.