Retail Sales in U.S. Declined for a Second Month in March

Sales at U.S. retailers declined in March for a second month, hurt by fewer purchases of automobiles, Commerce Department data showed Friday.

Sales declined in six of 13 major retail categories in March. While household outlays are projected to cool in the first quarter, steady hiring, healthier household balance sheets and more optimistic consumers will probably underpin spending. A confidence report Thursday showed a favorable buying climate for big-ticket items. Tax refunds, which had been delayed earlier this year, may help provide more wherewithal for consumers in the months ahead.
The report also helps explain why retailers have been cutting jobs this year and closing stores, with Internet sales outpacing purchases at brick-and-mortar merchants.