Leading US retailers yesterday reported their first monthly sales gain since the financial collapse of September 2008, although most still saw lower sales than a year ago as shoppers remained focused on bargain hunting.
The 1.1 per cent rise in Retail Metrics' September comparable sales index emerged as the Labour Department reported that the number of workers claiming jobless benefits fell last week to the lowest level this year.
Ken Perkins, president of Retail Metrics, attributed the September comparable sales gain – the first increase since August 2008 – to stronger autumn fashions and promotions, and easy comparisons with a year ago when sales plunged. But Mr Perkins warned: “We would not interpret this month's results as a sign the consumer is back.” The monthly sales figures were supported by a later Labor Day holiday weekend, which shifted some back-to-school sales into September from August.