U.S.

Data Advance April 2009 Retail Sales i Released May 13, 2009

Retail Sales Fare Better in
April Over Year-to-date
As the weather starts to warm up so does
consumer sentiment for an economic
recovery. A welcome change from past
months, consumer confidence jumped 12
points from March, typifying April with
an index of 39.
While All Stores sales for the month fell
-9.4%, All Stores excluding Motor
Vehicle and Parts Dealers and Gasoline
Stations dipped by only -1.8%.
Sales growth for the month of April fared
better than year-to-date, indicating a
potential, positive trend for certain retail
categories.
Health and Personal Care Stores topped
the category list in retail sales growth, as it
increased by 5.4%.
however this was lower than its year-to-
date sales.
Clothing and Accessories Stores remained
down this month by -3.0%. The category
bettered its year-to-date growth of -6.1%
leaving room for optimism that sales are
picking up. A further examination of the
first quarter sales growth revealed that
while both men’s and women’s specialty
clothing stores have witnessed significant
cuts (-12.7%, -12.8% respectively),
Family Clothing Stores have weathered
the economic storm much better (-1.1%)
For example, Old Navy stood out amidst
an ocean of retailers, as its sales increased
by 1%.
Building Material and Garden Equipment
Stores, while still negative, also enjoyed
improved sales results in April compared
to the rest of the year. Sales were down
-10.5% for the month.
Furniture and Home Furnishing Stores
were down by -14.3% in April.
Electronics and Appliance Stores were
also hit with a decrease of -11.9%. First
quarter sales, for the above categories
combined, fell by -9.8% compared to a
greater fall in April sales of -13.1%.
However, a further analysis of first quarter
results showed positive growth for Book
Stores (7.6%); Warehouse Clubs and
Superstores (3.9%); Beer, Wine, and
Liquor Stores (3.3%); Food Services and
Drinking Place (1.9%); and Electronic
Shopping and Mail-Order Houses (0.4%).
Some retailers will be spirited by their
April sales growth, while others will keep
facing double digit losses. As consumers
ramp up for summer fun, continued
investment in value and convenience will
play a key role in sustaining this positive
monthly trend.

General Merchandise Stores also
improved this month, growing 3.2%. Both
Target and Walmart partook in the
positive results, with Walmart’s sales
growing by nearly twice its forecasted
estimate.
Food and Beverage Stores sales remained
steady at 1.3%. Grocery Stores sales were
flat at 0.5%.
Food Services and Drinking Places saw an
uptick of 1.1% in revenue for the month;
Retailers that continue to under-perform in Release Date of the Next
April compared to their year-to-date sales National Retail Bulletin:
include Furniture, Home Furnishings, June 11, 2009
Electronics and Appliance Stores.
Please note:
The J.C. Williams Group National Retail Bulletin compares the latest monthly release of “raw” (i.e.,
unadjusted for seasonality, holiday, and trading day) retail sales figures to those in the same calendar
month of the previous year. The U.S. Census Bureau also reports seasonally adjusted sales that are
compared to the previous month within the current calendar year to measure change in Gross Domestic
Product (GDP). Although other sources use seasonally adjusted figures, J.C. Williams Group believes
that using raw figures and making comparisons to the previous year’s performance more accurately
reflects the seasonality of the retail industry, and therefore, are more useful in analysis. Definitions can
be found on the U.S. Census Website: www.census.gov.

350 West Hubbard St. Ste. 240, Chicago, Il. 60654 Tel: (312) 673-1254 Fax: (312) 822-9162 Website: www.jcwg.com
For more information, please contact Jim Okamura at (312) 673-1254, John Archer (416) 921-4181, or e-mail info@jcwg.com
 NATIONAL RETAIL BULLETIN Release Date: 5/13/09

Retail Sales by Store Category

Sales for the Month of April 2009 2008 2009/2008
All Stores 335,188 370,144 -9.4%
Motor Vehicle and Parts Dealers 58,824 74,115 -20.6%
Gasoline Stations 26,664 41,674 -36.0%
Food and Beverage Stores 47,402 46,805 1.3%
Grocery Stores 42,362 42,168 0.5%
Health and Personal Care Stores 21,073 20,000 5.4%
Building Material and Garden Equipment Stores 27,617 30,843 -10.5%
General Merchandise Stores 47,078 45,620 3.2%
Department Stores (excluding leased departments) 14,817 15,099 -1.9%
Clothing and Accessories Stores 16,559 17,077 -3.0%
Furniture, Home Furnishings, Electronics and Appliance Stores 14,491 16,678 -13.1%
Furniture and Home Furnishing Stores 7,307 8,525 -14.3%
Electronics and Appliance Stores 7,184 8,153 -11.9%
Sporting Goods, Hobby, Book and Music Stores 6,258 6,409 -2.4%
Miscellaneous Store Retailers 9,090 9,298 -2.2%
Nonstore Retailers 22,306 24,195 -7.8%
Food Services and Drinking Places 37,856 37,430 1.1%

Year to Date Sales Ending April 2009 2008 2009/2008

All Stores 1,286,827 1,429,984 -10.0%
Motor Vehicle and Parts Dealers 220,859 285,545 -22.7%
Gasoline Stations 101,494 155,144 -34.6%
Food and Beverage Stores 187,485 187,354 0.1%
Grocery Stores 168,828 169,605 -0.5%
Health and Personal Care Stores 83,061 80,824 2.8%
Building Material and Garden Equipment Stores 88,448 99,575 -11.2%
General Merchandise Stores 180,884 179,936 0.5%
Department Stores (excluding leased departments) 54,903 58,840 -6.7%
Clothing and Accessories Stores 60,997 64,938 -6.1%
Furniture, Home Furnishings, Electronics and Appliance Stores 61,765 69,089 -10.6%
Furniture and Home Furnishing Stores 29,526 34,466 -14.3%
Electronics and Appliance Stores 32,239 34,623 -6.9%
Sporting Goods, Hobby, Book and Music Stores 25,521 26,084 -2.2%
Miscellaneous Store Retailers 35,070 36,884 -4.9%
Nonstore Retailers 93,635 99,412 -5.8%
Food Services and Drinking Places 147,638 145,199 1.7%

Source: US Census Bureau. All Values are expressed in millions of US dollars and are not seasonally adjusted

350 West Hubbard St. Ste 240, Chicago, Il. 60610 Tel: (312) 673-1254 Fax: (312) 822-9162 Website: www.jcwg.com
For more info, please contact Jim Okamura at (312) 673-1254, John Archer at (416) 921-4181, or e-mail info@jcwg.com
 NATIONAL RETAIL BULLETIN Release Date: 5/13/09

Retail Sales by Store Category

Revised Year to Date Sales Ending March 2009 2008 2009/2008
All Stores 951,639 1,059,840 -10.2%
Motor Vehicle and Parts Dealers 162,035 211,430 -23.4%
Gasoline Stations 74,830 113,470 -34.1%
Food and Beverage Stores 140,083 140,549 -0.3%
Grocery Stores 126,466 127,437 -0.8%
Beer, Wine and Liquor Stores 9,069 8,783 3.3%
Health and Personal Care Stores 61,988 60,824 1.9%
Pharmacies and Drug Stores 51,642 50,722 1.8%
Building Material and Garden Equipment Stores 60,831 68,732 -11.5%
Building Material and Supplies Stores 51,874 60,210 -13.8%
Hardware Stores 3,948 4,185 -5.7%
GAFO (general merchandise, apparel, furniture, and other) 253,696 263,763 -3.8%
General Merchandise Stores 133,806 134,316 -0.4%
Department Stores (excluding leased departments) 40,086 43,741 -8.4%
Discount Department Stores (excluding leased departments) 26,471 27,492 -3.7%
Conventional and National Dept. Stores (ex. Leased depts.) 13,615 16,249 -16.2%
Warehouse Clubs and Superstores 83,680 80,522 3.9%
All Other General Merchandise Stores 10,040 10,053 -0.1%
Clothing and Accessories Stores 44,438 47,861 -7.2%
Men's Clothingg Stores 1,860 2,131 -12.7%
Women's Clothing Stores 7,424 8,511 -12.8%
Family Clothing Stores 17,313 17,500 -1.1%
Shoe Stores 5,682 6,070 -6.4%
Jewellery Stores 5,385 6,263 -14.0%
Furniture, Home Furnishings, Electronics and Appliance Stores 47,274 52,411 -9.8%
Furniture Stores 12,781 14,664 -12.8%
Home Furnishing Stores 9,438 11,277 -16.3%
Household Appliance Stores 3,756 4,100 -8.4%
Radio, TV and Other Electronics Stores 15,507 16,056 -3.4%
Computer and Software Stores 5,244 5,504 -4.7%
Sporting Goods, Hobby, Book and Music Stores 19,263 19,675 -2.1%
Sporting Goods Stores 7,810 7,758 0.7%
Book Stores 3,931 3,652 7.6%
Miscellaneous Store Retailers 25,980 27,586 -5.8%
Nonstore Retailers 71,329 75,217 -5.2%
Electronic Shopping and Mail-Order Houses 48,142 47,962 0.4%
Fuel Dealers 12,574 16,221 -22.5%
Food Services and Drinking Places 109,782 107,769 1.9%

Source: US Census Bureau. All Values are expressed in millions of US dollars and are not seasonally adjusted

350 West Hubbard St. Ste 240, Chicago, Il. 60610 Tel: (312) 673-1254 Fax: (312) 822-9162 Website: www.jcwg.com
For more info, please contact Jim Okamura at (312) 673-1254, John Archer at (416) 921-4181, or e-mail info@jcwg.com
 NATIONAL RETAIL BULLETIN Release Date: 5/13/09

U.S. Consumer
Confidence Index
120

110

100

90

80

70

60

50

40

30

20
Oct-04

Oct-05

Oct-06

Oct-07

Oct-08
Apr-04

Jul-04

Apr-05

Jul-05

Apr-06

Jul-06

Apr-07

Jul-07

Apr-08

Jul-08

Apr-09
Jan-05

Jan-06

Jan-07

Jan-08

Jan-09
Source: U.S. Conference Board

U.S.
U S Monthly Retail Sales by Major Category
Percentage Change from Same Month, Previous Year
Auto Food & Drug GAFO
15%
10%
5%
0%
-5%
-10%
-15%
-20%
-25%
-30%
-35%
Oct-07

Nov-07

Oct-08

Nov-08
Jun-07

Jan-08

Mar-08

Jun-08

Jan-09

Mar-09
Jul-07

Jul-08
Aug-07

Aug-08
May-07

Dec-07

Feb-08

May-08

Dec-08

Feb-09
Apr-07

Sep-07

Apr-08

Sep-08

Source: U.S. Census Bureau

350 West Hubbard St. Ste 240, Chicago, Il. 60610 Tel: (312) 673-1254 Fax: (312) 822-9162 Website: www.jcwg.com
For more info, please contact Jim Okamura at (312) 673-1254, John Archer at (416) 921-4181, or e-mail info@jcwg.com