Welcome!

News Feed Item

Retailers Report Weak Holiday Sales

LANSING, MI -- (Marketwired) -- 01/24/14 -- Hurt by damaging winter storms and outdated government policies that favor out-of-state, online companies, Michigan's retail industry suffered a poor holiday shopping season, the Michigan Retailers Association (MRA) said today.

Retailers posted only a 0.1 percent average increase over last holiday season, according to the Michigan Retail Index, a joint project of MRA and the Federal Reserve Bank of Chicago.

"Retailers were hit by arctic air, snow and ice storms that knocked out power across the state during the critical final days of the holiday shopping season, when stores should have been full," said James P. Hallan, MRA president and CEO.

"At the same time, they continued to be hurt by badly out-of-date laws that give out-of-state online merchants a price advantage over our Michigan companies that invest in Michigan, employ Michigan workers, pay taxes in Michigan and support their Michigan communities."

He added, "Lawmakers cannot let another Christmas go by without enacting Main Street Fairness legislation to enable Michigan businesses to compete on an equal footing with out-of-state 'vapor' retailers and put an end to government picking winners and losers on the retail playing field."

The latest Michigan Retail Index showed 38 percent of retailers increased sales during the holiday season and 41 percent experienced declines. Twenty-one percent reported flat sales.

Retailers went into the already compressed shopping season with cautious optimism, their forecasts averaging a modest 1.3 percent gain over last year. The results were even weaker.

December sales were slightly better than November's. The Index found that 39 percent of retailers increased sales over the same month last year, while 44 percent recorded declines and 17 percent saw no change. The results create a seasonally adjusted performance index of 50.5, up from 46.7 in November.

The 100-point Index gauges the performance of the state's overall retail industry, based on monthly surveys conducted by MRA and the Federal Reserve. Index values above 50 generally indicate positive activity; the higher the number, the stronger the activity.

Looking forward, 42 percent of retailers expect sales during January-March to increase over the same period last year, while 25 percent project a decrease and 33 percent no change. That puts the seasonally adjusted outlook index at 63.3, up from 58.4 in November.

Note: William Strauss, senior economist and economic advisor with the Federal Reserve Bank of Chicago, can be reached at 312.322.8151.

Michigan Retail Index
December 2013 results
Index figures dating to July 1994 are available at http://www.retailers.com/mra/news/michigan-retail-index.html

December Performance
Retailers reporting increased, decreased or unchanged sales, inventory, prices, promotions and hiring compared to the same month a year ago
(numbers in parentheses indicate November results)

                                          % No
              % Increased   % Decreased   Change      Index*     Responses
Sales            39 (35)      44 (42)     17 (23)   50.5 (46.7)    102 (57)
Inventory        38 (27)      28 (16)     34 (57)   60.5 (52.1)    102 (56)
Prices           25 (16)       7 (5)      68 (79)   61.1 (56.1)    101 (56)
Promotions       41 (32)       7 (5)      52 (63)   64.8 (61.1)    101 (56)
Hiring            8 (9)        7 (11)     85 (80)   53.3 (50.9)    101 (55)

Outlook for Next 3 Months
Retailers expecting increased, decreased or unchanged sales, inventory, prices, promotions and hiring compared to the same period a year ago
(numbers in parentheses indicate November results)

                                            % No
               % Increased  % Decreased    Change      Index*     Responses
Sales            42 (30)      25 (23)     33 (47)   63.3 (58.4)    101 (57)
Inventory        34 (13)      28 (37)     38 (50)   61.2 (44.1)    101 (56)
Prices           28 (16)      12 (11)     60 (73)   57.3 (53.3)    100 (56)
Promotions       33 (31)       4 (7)      63 (62)   66.6 (66.3)    101 (55)
Hiring            9 (7)        5 (9)      86 (84)   53.8 (53.0)    101 (56)

December Sales Performance & Outlook for Next 3 Months, by Region
(the first number indicates sales performance for the month; the number in parentheses indicates outlook for the next three months)

                                % Increased     % Decreased     % No Change
North                             47 (27)         33 (40)         20 (33)
West                              37 (41)         33 (18)         30 (41)
Central                           36 (46)         43 (23)         21 (31)
East                              45 (22)         44 (22)         11 (56)
Southeast                         42 (52)         55 (29)          3 (19)

Question of the Month
How much did your holiday sales increase or decrease over last year?
Avg. +0.1%

    Increase        Increase                    Decrease         Decrease
greater than 5%    between 0-5%   No change   between 0-5%   greater than 5%
      26%              12%           21%          17%              24%

How much did your 2013 sales increase or decrease over last year? Avg. +0.9%

    Increase         Increase                   Decrease         Decrease
greater than 5%    between 0-5%   No change   between 0-5%   greater than 5%
      30%              24%           12%          21%              14%

*Seasonally adjusted diffusion index. A diffusion index, which is the sum of the percent of respondents indicating increase and half the percent indicating no change, is calculated and then seasonally adjusted using the U.S. Census Bureau's X-11 Seasonal Adjustment procedure. Index values above 50 generally indicate an increase in activity, while values below 50 indicate a decrease.

Contact:
Tom Scott
517.372.5656
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, will posit that disruption is inevitable for c...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...