California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The advance estimates of U.S. retail and food services sales for May, adjusted
for seasonal variation and holiday and trading-day differences, but not for
price changes, were $387.1 billion, a decrease of 0.2 percent (±0.5%) from the
previous month, but 7.7 percent (±0.7%) above May 2010.

Retail sales slipped in May, pulled down mainly by auto sales.  May's overall
decline was less negative than what analysts and economists alike had predicted. 
The median forecast was for a 0.3 percent decrease.

Motor vehicle sales dropped 2.9 percent, following a 0.7 percent dip in April.
However, excluding autos, sales advanced 0.3 percent, following a 0.5 percent
rise in April. The forecast consensus called for a 0.3 percent increase and that
is what exactly happen as retail sales, excluding autos and gasoline in May saw
a 0.3 percent rise, matching the increase from the previous month. Overall, the
trend is upward but at a modest pace the last two months following strong months
in March and February.

The largest gains were seen in miscellaneous store retailers (up 2.1 percent);
building materials & garden equipment (up 1.2 percent); and nonstore retailers
(up 1.2 percent). Also rising were health & personal care; clothing; and food
services & drinking places.

Decreases were seen in electronics & appliance stores (down 1.3 percent);
furniture & home furnishing (down 0.7 percent); food & beverage (down 0.5 percent)
with declines also seen in sporting goods, hobby & book stores and also in general
merchandise.

I am Tim Johnson and this has been the California Business Minute.

AN EXTRA MINUTE

A recent survey by a consumer website company asked more than 500 women across
the nation to reveal their shopping habits and successes when it came to buying both
essential and non-essential items. It appears that women go to great lengths to save
money, with as many as 37 percent reporting they have saved $51-$100 while making
purchases. The top ways they save:
• Using coupons and/or promo codes (93 percent)
• Shopping during sales (93 percent)
• Using daily deal sites (83 percent)
• Signing up to receive emails with coupons and savings from their favorite 
  brands (80 percent)
Good deal or not, 67 percent of women have felt guilty about a purchase they made
because of the price. Thirty percent admit to hiding a purchase in the trunk of
their car until they can sneak it in the house undetected. Fifty-five percent of
women have also thrown something out or donated an old item to make room for new
purchases. On the other hand, 18 percent of women shop guilt-free regardless of
price and when it comes to seeing great daily deals, 49 percent will buy the deal
for themselves without hesitation.