The nation’s stores saw their first sales gain in 14 months in September, a sign of life from shoppers that fuels some hope for the holiday shopping season. A late Labor Day and delayed school openings helped boost back-to-school sales in September. And stores’ figures are looking better as they are compared last September when spending plummeted amid the ballooning financial meltdown.
Below is the chart of the RTN retail holders ETF which shows serious overhead supply right now and that this brief rally might be completely over-done.
The tally is based on sales at stores opened at least a year and are considered a key indicator of a retailer’s health. The tally excludes Wal-Mart Stores Inc., which stopped reporting monthly sales after it released April results. Stores had struggled with 13 straight months of sales declines, hitting the bottom in November 2008 when sales plummeted 7.7 percent.
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