Posted by Diane Capuano
Sales results for the second quarter of 2011 were a bit of mixed bag for independent paint and decorating stores, with slight growth for retailers in the U.S. and moderate losses in Canada.
U.S. independent decorating products retailers had overall market gains in total store sales with a 3.7 percent increase. The Midwest and Western states registered slight losses. Window coverings were the only product category showing across the board increases. The first six months of 2011 ended with total store sales slightly above last year.
Canadian retailers for both the second quarter and year-to-date were running about 5 percent behind last year, with all product categories showing losses.
Still holding back sales result is shaky consumer confidence, which dropped over the summer after reaching a three-year high in February. Such factors as the demoralizing battle over the debt ceiling, the lack of restraint in government spending and persistent unemployment also are having an impact. The sluggish housing market also continues to have an impact.
The Pulse Report is a product of the PDRA Research Deaprtment. You can take a look at the complete report here.