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U.S. retail sales slip week to week

April 17, 2013 at 1:06 PM   |   Comments

NEW YORK, April 17 (UPI) -- U.S. retail receipts dropped 1.1 percent in the week ending Saturday, a U.S. trade group said.

The International Council of Shopping Centers-Goldman Sachs weekly sales report said sales dropped 1.1 percent week to week, but rose 2 percent compared to the same week a year earlier.

The trade group noted strong sales at clothing stores, but "very noticeably" weaker sales at discount stores. "Most other segments were ... little changed," during he week, ICSC said Tuesday.

Weather Trends International Inc. said the week was cooler than the same week of 2012, but slightly warmer than the week's long-term trend.

The trade group has said prolonged winter weather this year held back enthusiasm for spring merchandise. This week, temperatures were closer to normal, however, conditions were "much wetter than normal, making (it) the wettest first week of April in more than 22 years."

Gasoline prices dropped for the seventh consecutive week, the Energy Information Administration said.

In the latest week, gasoline prices shed 6.6 cents to an average Monday of $3.542 per gallon.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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