October sales improve

U.S. retail sales figures from a key data service show signs of a rebound in October from last year’s plunge. SpendingPulse, a service of MasterCard Advisors, reports that categories including jewelry and apparel posted gains in October compared with a year earlier.  SpendingPulse estimates sales in all payment forms including cash and checks.

Michael McNamara, vice president at SpendingPulse, said the sales look better mainly because they are being compared with abysmal spending a year earlier as the financial meltdown ballooned.  He noted that discounting, which depresses total sales figures, wasn’t as deep this October as last, and he said more people are coming out to shop in recent weeks than earlier this fall.

_ Luxury sales, excluding jewelry, rose 6.5 percent in October, compared with a 17.9 percent drop a year ago.

_ Jewelry sales rose 7.2 percent in October, compared with a 14.3 percent drop a year earlier.

_ Clothing sales rose 3.4 percent, compared with an 8.3 percent drop a year ago.

The numbers from SpendingPulse come ahead of the release Thursday by major retailers such as Target Corp. and Macy’s Inc. of their October sales at stores open at least a year, considered a key barometer of a merchant’s health.

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About Arthur De Gennaro

My friends call me Art. Welcome to my blog. In this space you’ll find information and comments on the ophthalmology world, the optical industry, the hearing industry and medical practice management. My intent is to provide information you can use to improve your business and your own performance. Please visit often and feel free to join the discussions by leaving comments.

You can learn more about me and my consulting company, Arthur De Gennaro & Associates, LLC by visiting my web site www.adegennaro.com

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November 2009

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