A U.S. Commerce Department report of February retail sales in the GAFS category, which includes most general merchandise categories, jumped 4.4% over the previous year. This increase comes on top of a 10.6% increase in February of 2004. Sales in the Sporting Goods, Hobby, Book, and Music Stores segment declined 3.9% from February last year. Comparing the month-to month numbers, total retail sales increased 0.3% seasonally-adjusted over January.
“February's sales were especially robust given the strong comparisons from a year ago and the persistent dreary weather last month,” said NRF Chief Economist Rosalind Wells. “Consumers were motivated to spend on the Super Bowl and Valentine's Day, and holiday gift cards are continuing to trickle in, which is improving some retailers' first quarter performance.”
