U.S. Jewelry Store Sales, Consumer Inflation Rise 6%

U.S. jewelry store sales rose 6 percent year on year to $2.102 billion in March, according to preliminary government figures that were released on 15 May, Rapaport reported. However, the U.S. consumer price index (CPI) for jewelry during the month of March rose almost as much - at 5.9 percent.
An advanced estimate of sales for U.S. department stores during the month of April were poor and realized a 4 percent year on year decrease to $14 billion. Given that the Easter holiday fell earlier in 2012, on the first weekend in April, the combined sales for March and April at department stores reflected better results, but still they declined by 0.3 percent to $28.797 billion.
In a separate report, the National Retail Federation (NRF) cited warm weather in February and March coupled with an early Easter holiday for shifting consumer spending patterns slightly.
“Though consumer spending softened in April, retailers overall have seen solid sales growth so far this spring, a positive indicator we’re heading in the right direction,” said NRF's president  Matthew Shay. “With 22 straight months of sustained retail sales growth, retailers are optimistic as they gear up for the all-important summer shopping season.”