New York—Sometimes it seems like retail just isn’t going to shake the chill of the polar vortex. As retail earnings season is in full swing, the bitter winter continues its impact on earnings—and sales.
Most major retailers reporting so far have complained about the winter when either stores closed or consumer simply stayed home. Walmart even went so far as to quantify the bad winter weather’s impact: a reduction of 3 cents a share due to it.
Then, in its monthly sales report, the U.S. Department of Commerce reported April, which included Easter, and warmer weather had disappointing sales.
Fortunately though economists believe those April figures may have been a fluke, a bump along a pathway that will see stronger sales come second quarter.
“Even though retail sales were weaker than anticipated, the fundamentals of the economy, including improving job growth and income gains, remain positive,” NRF Chief Economist Jack Kleinhenz said. “While the shift in Easter played into the seasonal figures, NRF remains optimistic that retail sales will keep their positive trajectory, albeit in fits-and-starts, in the second quarter.”
So heading into the summer season, the pressure is on to see sales rebound.
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