Retail sales results released by the U.S. Commerce Department show that total retail sales excluding motor vehicles rose 0.9% seasonally adjusted for the January 2004 period versus December 2003 and increased a healthy 6.8% unadjusted year-over-year for January.
“Consumers hit the stores in January to redeem gift cards and take advantage of deep discounts on winter merchandise,” said National Retail Federation President and CEO Tracy Mullin. “Though the first month of the year is traditionally slow, retailers should be pleased that consumers are still spending after the holiday season.”
Apparel stores benefited from the colder weather as consumers continue to purchase closer to need. Clothing and clothing accessories stores saw sales rise 2.9% seasonally adjusted month-to-month and were up 9.5% unadjusted for the year. Sporting goods, hobby, book, and music stores also performed well with sales rising 1.6% adjusted for the month and up 3.7% over the year-ago period.
