This is nothing telling. Clothing and tech products are dirt cheap in this deflationary environment, and no doubt play a role in retail sales being "up". Also post-xmas fire sales probably had a lot to do with it as well.
This is not necessarily indicative of the economy turning a corner.
When we see multiple months of this, with the percentage gradually increasing, then we'll talk.
SPOT ON
And as an expert in Retail....
January is CLEARANCE month....whatever you did not sell off at Christmas hits the racks dirt cheap....at a loss, in general....
Also, they are in the run of their lives to make year end figures...Fiscal year end for department stores is usually the end of January or the end of february...then storewide inventory immediately afterwards....the more sold off, the less on hand to inventory....thus the huge drops in prices to liquidate before such...
Quite right.
But LAST YEAR the people were buying the clearance at a rate that was (9% higher than this year.
THAT is significant, I think.
I see more and more empty stores on Main Street.
Not a good sign, folks.