Retail Figures Enhanced by Early Easter
An early Easter gave many of the nation’s largest general retailers strong sales in March, but others had a lackluster month, leading some analysts to conclude that consumer spending has not yet broken out of its slump.
“They’re not as good as they appear,” Jeffrey B. Edelman, a retail industry analyst with the investment firm Drexel Burnham Lambert Inc., said of the sales figures released today.
“If you average out the March-April period combined, you’ll basically see sluggish numbers,” he said.
With Easter occurring in early April, consumers did their spring shopping early and are now expected to cut back on their purchases. They have spent cautiously since early last year, and analysts predict shoppers will remain tight-fisted for at least the first part of 1988.
The nation’s largest retailer, Sears, Roebuck, was among the companies in a slump last month. Sears reported its sales rose 1.5% from March, 1987.
K mart said its sales rose 8.6% last month. Wal-Mart Stores said its sales rose 36% in March.
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