January 2011 National Retail Sales Results
After a holiday season of consistent retail growth we expected the same for January. We're happy to report that retail sales growth did continue for the majority of retailers. Several retailers have announced expansion plans for 2011, validating confidence in consumer spending.
In their January summary, Chain Store Age reported, "The reports, many of which surpassed Wall Street expectations, offer encouragement that strength in consumer spending is continuing after a merry holiday season." Analysts were surprised that repeated snowstorms did little to curtail a robust January retail performance.
Unemployment
The Labor Department reported a gain of 50,000 jobs, and nationwide unemployment shrinking to 9.0% from 9.4% in January. Seasonally adjusted professional level unemployment shrank to 4.7% from 5.0%. For those with a Bachelor's degree or higher the unemployment rate decreased from 4.8% to 4.2% for the same period.
Watch Area
The auto parts retailers continue to enjoy near double-digit increases as we turn the corner into 2011. It's our belief that the new car industry is poised for an explosion of new car sales. Start watching for the dealer paper license plates - you'll start seeing more any day.
Click here for January National Retail Sales Results
