Electronics Store Sales Fall 2.8 Percent In April From March
Consumers still aren’t buying gadgets.
The latest Commerce Department retail sales data, which showed a disappointing 0.4 percent fall overall in April from March, includes a 2.8 percent drop in sales at electronics and appliance stores, which is worse than any other individual category. Sales were down 12 percent on a year-over-year basis. In March, sales were down 7.8 percent sequentially for electronics stores, and 8.8 percent year over year.
As the Wall Street Journal notes, the 0.4 percent drop was substantially worse than the Street expectations for a 0.1 percent rise in retail sales over the previous month.
