March 3, 2005

GEORGE BUSH WENT TO WASHINGTON AND ALL WE GOT WAS CASH IN POCKET...:

Feb. retail sales up on bigger tax refunds (ANNE D'INNOCENZIO, 3/03/05, Associated Press)

Despite a spike in oil prices and stormy weather in the Northeast and Midwest, consumers extended their shopping spree into February, handing retailers better-than-expected sales for the month. New spring fashions and bigger tax refunds helped boost spending. [...]

Consumers' tax refunds, which on average are larger than a year ago, are giving consumers an added incentive to spend. Stores, particularly discounters, also benefited from the timing of the Super Bowl, which was played in February this year, after being held in January in 2004.

The International Council of Shopping Centers-UBS sales preliminary tally of 52 stores rose 4.4 percent, much better than the 3.3 percent increase it had projected.

Posted by Orrin Judd at March 3, 2005 12:03 PM
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