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Ohio-Based Retailers Post Positive Sales For June.
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Ohio based retailers fared better in June. But the latest figures from the malls, websites and boxstores show more mixed results. WOSU’s Tom Borgerding reports.
Columbus based Limited Brands, Abercrombie and Fitch in New Albany, and Cincinnati-based Macy’s all beat analyst sales expectations. But, sales figures were compared to a lacklustre performance in June of 2009. Ohio University professor Ann Paulins tracks consumer behaviour. She says consumers are often distracted at the start of summer.
“Summer is traditionally a low sales period. People are doing vacation and thinking about other ways to spend their money.”
Paulins adds retailers still have time to recover some sales later this month and in early August.
“We’ve seen retailers bounce back, particularly retailers who do a good job connecting with their customer. And one of the most lucrative customers is the pre-teen and the teen and early adult market which will be big back back-to-school customer.” June’s retail results combined with a drop-off in new car sales raised concerns about the long-term health of the economic recovery.