California Business Minute™

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

The national retail and food sales figures for January were released by the
U.S. Department of Commerce.  The numbers showed a 0.3 percent increase
over the month and a 4.4 percent over the year. 

The sales figures defy Wall Street analysts and economists who had expected
a 0.3 percent decline for the month. Total sales for January were $382.9 billion.
This reverses the decline identified in December.

Major increases were seen in food and beverage stores and grocery stores in excess
of 5 percent. Gasoline stations saw increases of 23 percent. Segments still reeling
from the downturn in the economy are general merchandise retailers specifically
department stores loosing 4.8 percent for the month nearly 6 percent for December
and January. Hence the reason for reorganizations at Macy’s and the pull back of
expansion plans by Cabela’s.

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