U.S. Retail Sales Climb 0.1% after Tax Increase
February 13, 2013
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Americans barely spent more last month at retail businesses and restaurants after higher taxes cut their paychecks. The small increase suggests consumer spending may be weak in the January-March quarter, which could hold back economic growth.
Retail sales ticked up 0.1 percent in January from December, the Commerce Department said Wednesday.
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January 30, 2013 From News
The National Retail Federation projects 2013 retail sales to increase 3.4 percent, slightly less than the preliminary 4.2 percent growth in 2012.
January 16, 2013 From CNBC
Williams-Sonoma Inc. said Wednesday that its revenue increased 4.8 percent to $1.01 billion for the nine-week holiday period that ended Dec. 30.
The cooking and housewares company's President and CEO Laura Alber said the results reflect the strength of its brands, as it made the gains amid tough competition and a difficult economy. Holiday sales are critical to retailers, which can often pull in as much as 40 percent of their annual revenue during the final two months of the year.
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