Retail sales increase in July
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for July, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $390.4 billion, an increase of 0.5% from the previous month, and 8.5% above July 2010.
Sales in building material & garden equipment & supplies dealers, NAICS code 444, were an adjusted $25.047 billion in July, down from $25.143 billion in June, but up from $23.291 billion in July 2010.
Retail trade sales were up 0.5% from June 2011, and 8.9% above last year. Nonstore retailer sales were up 14.1% from last year, according to the report released Friday morning.
Andersen Windows offers trade incentive
Andersen Windows has launched a trade promotion for employees of Andersen dealers, professional contractors, subcontractors and others with valid Andersen Trade ID.
Prizes include a trip to Las Vegas; a trip to Jackson Hole, Wyo.; or a trip to a racetrack for a pro-racing experience.
Registration takes place at the official sweepstakes website. The contest is open to residents of 19 states: New Hampshire, Vermont, Connecticut, California, Maine, Massachusetts, Rhode Island, Wisconsin, Michigan, Illinois, Indiana, Pennsylvania, Maryland, West Virginia, Virginia, Delaware, New York, New Jersey and Ohio.
Topic of CEO conversation: The weather
The weather is always a popular topic in discussions of retail performance, but it seems this recent quarter has produced a storm of exceptionally intense meteorological commentary.
The following are just some of the examples of CEOs talking about the weather taken from news reports of the past several days:
• "For the second quarter in a row, very poor weather conditions, especially in April and May, and fragile consumer confidence significantly impacted our quarterly results," said Robert Dutton, president and CEO of RONA.
• "The challenges we saw from weather this year are unparalleled during my life-long tenure in this industry," said Jim Hagedorn, chairman and CEO of Scotts Miracle-Gro.
• "The continued significant escalation in raw material input costs, together with extreme weather conditions that suppressed our chemical and controls business and altered our product mix, negatively impacted our gross margin and bottom-line results," said Bill Brown, chairman and CEO of Central Garden & Pet.
• "We are very pleased with our solid performance during the second quarter despite unfavorable weather conditions in April and May,” said Ray Griffith, Ace president and CEO.
• "As previously announced, second-quarter sales were less than expected due to poor weather in much of the country and, to a lesser extent, the challenging macroeconomic environment," said Ronald Kaplan, Trex chairman, president and CEO.
Home Depot and Lowe’s are due to report second-quarter earnings next week. There is a high probability that the topic of weather will cast a shadow over the discussions.