Tepid. Retail sales are tepid.
A moderating economy and cooler weather gave consumers little incentive to shop in March and left retailers with tepid sales for the second month in a row. The later arrival of Easter this year also hurt business.
”We are seeing the economy slowing down, and that is affecting same-store sales,” said Jharonne Martis, an analyst at Thomson Financial.
The International Council of Shopping Centers-UBS sales tally of 60 retailers rose a slim 1.9 percent in March, less than the 3.0 percent gain originally expected for the month. It marked the weakest sales growth since November 2004, when the tally rose 1.8 percent.